WASHINGTON–CUNA said it has joined with a number of other financial industry associations in filing an amicus brief supporting a petition for a rehearing of a lawsuit that deals with communications under the Fair Debt Collection Practices Act (FDCPA).
ALEXANDRIA, Va.–Credit unions are being reminded to ensure all training materials along with policies and procedures promote compliance with federal equal credit opportunity laws and Regulation B, which is administered by the CFPB, in line with a 2020 U.S. Supreme Court ruling.
WASHINGTON— The crypto market needs more regulation to protect investors and greater funding and authority are needed to provide that oversight, according to Gary Gensler, recently named to head the Securities and Exchange Commission (SEC).
LONDON—HSBC has launched a multi-currency digital wallet that enables businesses to make and receive international payments from a single global account.
SAN FRANCISCO—Fintech Plaid has announced it is partnering with Square in what the companies said is an effort to help businesses easily process ACH debits without needing to hold sensitive bank information.
TYSONS, Va.–PenFed Credit Union said it is partnering with Rise, a nonprofit providing services in the Hightstown/East Windsor area in New Jersey, to launch a new platform, “uRise Powered by PenFed” (urise.njrise.org).
CAMBRIDGE, Mass.–MIT FCU said that as part of the Massachusetts Institute of Technology’s Independent Activities Period (IAP) it has collaborated with the Priscilla King Gray Public Service Center (PKG) to offer a social impact internship opportunity.
LONDON–The United Kingdom’s Financial Conduct Authority (FCA) said it is establishing plans for a new “Consumer Duty” designed to bolster existing rules and principles in order to enhance consumer protection in retail financial markets.
WASHINGTON–President Biden’s recently submitted $6 trillion federal budget includes, not surprisingly, numerous proposals that have credit union support, opposition and concern.
WASHINGTON– At the urging of business groups, the Equal Employment Opportunity Commission has made clear how companies and credit unions can issue vaccine mandates to workers coming back to the office, and what incentives those employers can offer to promote being inoculated against the coronavirus.
