WASHINGTON—The Federal Trade Commission has taken action against Financial Education Services and its owners, Parimal Naik, Michael Toloff, Christopher Toloff and Gerald Thompson, as well as a number of related companies, for scamming consumers out of more than $213 million.
WASHINGTON—Officially recorded remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4.2% this year to reach $630 billion.
WASHINGTON—Is the long tradition of the 30-year mortgage in the U.S. on its way to becoming the 40-year mortgage? It could be, and one plan to extend terms has the support of the credit union trade groups.
WASHINGTON—A crypto milestone has been reached by the 118th Congress, which has now seen 50 bills and resolutions introduced related to regulating Crypto.
WASHIINGTON–Many political analysts are already forecasting that November’s elections will bring a change in the majority in Congress from Democratic control to Republican control. What might such a change mean to credit unions and the credit union agenda in Washington?
ALEXANDRIA, Va.–NCUA has issued two prohibition orders and one notice of prohibition in May. These individuals are prohibited from participating in the affairs of any federally insured depository institution.
WASHINGTON–Recommendations for the oversight of certain non-banks and fintechs based on risk determination have been made by CUNA in a letter to the Consumer Financial Protection Bureau.
WESTBROOK, Maine–The Maine Credit Unions’ Campaign for Ending Hunger today is launching its third annual $100,000 Challenge.
MADISON, Wis.–Seventy-eight credit union professionals in Ukraine participated in online meetings with a professional psychologist that were set up by World Council of Credit Unions' Credit for Agriculture Producers (CAP) Project, a USAID-funded activity.
TEMPE, Ariz.–Carvana, which has upended the used car business over the past several years and with which some credit unions have forged lending relationships, has seen 92% of its market value disappear over the past nine months and it is now pivoting as it seeks to reverse the trendline, including making loans to riskier buyers.
