WASHINGTON–The National Cooperative Bank has announced several additions to its board of directors, including Gigi Hyland, executive director of the National Credit Union Foundation.
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TORONTO–Toronto-Dominion Bank (TD Bank) has agreed to pay $41.5 million (C$49.93 million) to settle a class action lawsuit in the United States over charging excess insufficient funds fees on customer accounts.
SAN JOSE, Calif.—PayPal Holdings plans to move several core payment-processing applications to Google Cloud as the company experiences an upswing in activity fueled by changing consumer spending habits, The Wall Street Journal reported.
WASHINGTON—NAFCU has joined with several other trade associations, including the American Bankers Association and the Community Bankers Association, to urge lawmakers to oppose legislation the groups allege could hurt consumers, small businesses, and employees by removing arbitration provisions in private contracts.
LYNCHBURG, Va.–Carrie Hunt, EVP and general counsel with NAFCU, has been named the new president and CEO of the Virginia Credit Union League.
WASHINGTON–The The Credit Union Employee and Member Safety Act of 2021 has been introduced in Congress by Senators Tina Smith (D-MN) and Ben Sasse (R-NE). The legislation seeks to make make credit unions safer for employees and members.
WASHINGTON–President Biden and the first lady remain members of credit unions.
WASHINGTON–Senate Banking Committee Chairman Sherrod Brown (D-OH), who has been skeptical of cryptocurrencies, has sent a letter to acting Comptroller of the Currency Michael Hsu expressing concerns about crypto companies getting approved for national trust charters.
BOISE, Idaho–Physical meetings in credit unions are making a return, with organizations from coast to coast announcing they will host a number of traditional in-person events later this year.
WASHINGTON–The reporting exemptions on Home Mortgage Disclosure Act (HMDA) data for smaller financial institutions has had little effect on data availability, but additional information from lenders would help improve oversight, according to a new report from the Governmental Accountability Office (GAO).