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WASHINGTON—NAFCU, CUNA and the Virginia League are asking the CFPB to rescind its proposed rule to reduce the credit card late fees safe harbor.

WASHINGTON–The Consumer Financial Protection Bureau (CFPB) has published a report on what it called “high-cost specialty” financial products, such as medical credit cards, alleging that while they are sold by what are often fintechs to patients as a way to alleviate growing medical costs, they actually only add to the burden.

WASHINGTON—While credit unions are strongly opposed to the CFPB’s proposed rules capping credit card late fees, the National Consumer Law Center and eight other advocacy groups have submitted comments in support of the plan, saying it will save consumers “billions of dollars each year in late fees and put that hard-earned money back in their pockets.

ARLINGTON, Va.—Total vehicle sales increased 1.2 million annualized units in April – from 15.3 million in March to 16.5 million – and were up 15.4% from the previous year.

EXTON, Pa.–Jeff March, president and CEO of  Citadel Credit Union, has announced he will retire by year end after a successor is selected.