WASHINGTON–The Federal Trade Commission has issued an advisory opinion stating that the Holder Rule does not prevent state law from providing costs or attorneys’ fees against loan holders, as some courts have “incorrectly concluded.”
Fresh Today
OMAHA, Neb.–Credit unions and CUSOs have significantly expanded their insurance offerings to members, but a new analysis finds competition in that arena is also coming from some giant consumer brand fintechs, as well.
WASHINGTON—The Consumer Financial Protection Bureau has filed a proposed final judgement and order with a federal district court that, if entered by the court, would resolve a March 2021 lawsuit brought by the CFPB against BrightSpeed Solutions and its founder Kevin Howard, the agency announced.
BASINGSTOKE, U.K.– The need to get more members to use their credit union cards to make payments is even more apparent in the wake of findings of a new study.
DALLAS—MoneyGram, which works with digital peer-to-peer (P2P) payments, announced it is partnering with Digital Wallet Corp. on wider-spread payments.
MARLBOROUGH, Mass.— The Cooperative Credit Union Association said it has released a video highlighting the programs and services provided to credit unions in Delaware, Massachusetts, New Hampshire, and Rhode Island to “help them better serve their members.”
WASHINGTON—Virtual currencies are increasingly being used in human and drug trafficking, the Government Accountability Office said in a new report.
WASHINGTON– The Federal Deposit Insurance Corporation (FDIC) has approved a final rule to simplify aspects of the agency’s deposit insurance coverage rules.
ALEXANDRIA, Va.–The NCUA Board heard an update on the status of the Central Liquidity Facility (CLF), with all three board members urging Congress to extend the now-expired authorities it was granted during the first years of the pandemic, even as one board member noted it has not made a “significant loan” in a dozen years.
ALEXANDRIA, Va.–The NCUA board has received an update on the agency’s supervisory priorities in 2022, with each of the board members weighing in on issues that included where CUs have been expressing frustrations, consumer protection, plans for reviewing overdraft programs, the recording of meetings with examiners, and other matters.