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The Consumer Financial Protection Bureau is set to unveil a sweeping proposal on debt collection practices this week that would force banks and credit card companies for the first time to comply with federal restrictions. It said the plan would put an end to some of the most egregious practices in the $13.7 billion debt collection industry.
The National Credit Union Administration (NCUA) has awarded grants totaling almost $2.5 million that will help 309 low-income credit unions "expand services to under-served communities, train staff, improve cyber-security and provide students with work experience."
2016 platform focuses on need for financial industry regulation rather than post-crisis housing reforms.
Despite fears that increased compliance costs from new Consumer Financial Protection Bureau rules could drive community lenders out of the mortgage business, a watchdog report found that smaller companies remain active.
The decision throws out the anti-money laundering charges against Michell Espinoza, who was arrested after agreeing to sell $30,000 to an undercover detective who declared he would use it in an illegal credit card scheme.
A recent government report says Britain's vote to leave the EU could have a lasting impact on the U.S. economy.
Edgeley, N.D.-based Dakota Plains Credit Union announced it has adopted the XP2 integrated technology suite from Fiserv, Inc.
Brookfield, Wis.-based Fiserv, Inc., a global provider of financial services technology solutions, on Friday said Me/CU, based in Oklahoma City, Okla., has selected the company's Portico account-processing platform and an integrated suite of digital banking, payments and lending solutions.
It turns out cooperation isn't just good philosophy, it's good business. FIs such as RiverLand FCU are using cross-institutional collaboration to uncover scams and prevent further losses from occurring.
Credit union executives at the C-level have seen the writing on the wall about millennials for years, but a recent mobile-banking milestone has resulted in significant takeaways for the industry.
Wendy's Data Breach
In the wake of the Wendy's data breach, compliance reps from the Michigan CU League sound off on how these events continue to impact credit unions -- and what needs to be done to stop the problem.