WASHINGTON—With the former acting chief of the Office of the Comptroller of the Currency issuing a warning that overturning his agency's "true lender" rule could reduce credit available to many consumers, Senators adjourned a hearing on so-called “rent-a-bank” schemes with little indication how the issue might ultimately be settled.
WASHINGTON—The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac will implement a new refinance option for low-income borrowers with enterprise-backed single-family mortgages.
ALBANY, N.Y.–Albany Firemen’s FCU has a new name. The credit union is now NY Firefighters Bravest FCU.
WASHINGTON—In which U.S. counties are American consumers filing the most complaints? The Consumer Financial Protection Bureau has issued a tally.
COLUMBIA, S.C.—The South Carolina House of Representatives has passed S. 0467, bringing to fruition what the Carolinas Credit Union League has been a multi-year campaign to improve the business climate for credit unions through substantial changes to the S.C. Credit Union Act, according to the league.
OLYMPIA, Wash.– Amid a surge in mortgage volume and with the Spring buying season here, WSECU said it will donate up to $100,000 to Habitat for Humanity of Washington State, donating $500 for every new purchase first mortgage loan closed through July 31.
WASHINGTON—The Federal Trade Commission and the Office of the Illinois Attorney General are sending payments totaling more than $4 million to more than 10,000 consumers who lost money to the Stark Law phantom debt collection scheme, the FTC said.
WASHINGTON–The Treasury Department said its Community Development Financial Institutions Fund has opened the fiscal year (FY) 2021 funding round for the Small Dollar Loan Program (SDL Program).
WASHINGTON—The Consumer Financial Protection Bureau has taken action against Nationwide Equities Corp. for allegedly sending deceptive loan advertisements to hundreds of thousands of older borrowers, the agency reported.
NEW YORK/ALBANY, N.Y. —Inclusiv and the New York Credit Union Association said they have formalized a new partnership and have agreed to work closely together to raise awareness about the benefits of credit unions becoming certified community development financial institutions and minority depository institutions.
