KINGSTON, Jamaica–The Jamaica credit union movement's first prepaid Mastercard has been introduced to the country by Community & Workers of Jamaica Co-operative Credit Union Limited (C&WJCCUL). The credit union is rolling the card out in partnership with Alliance Financial Services Ltd., a principal member of the Mastercard network, the Jamaica Observer reported.
WASHINGTON–The Consumer Financial Protection Bureau has issued a final rule concerning small dollar lending, and while the credit union trade groups embraced it, a number of consumer groups and one credit union leader wasted little time in blasting the agency for what is being called a “shameful” decision that will permit some lenders to make loans with APRs as high as 400%.
WASHINGTON–The first insights into who got loans and for how much from the Paycheck Protection Program have been released by the Treasury Department.
WASHINGTON—The Supreme Court has ruled calls intended to collect a debt owed to or guaranteed by the U.S. are exempt from the Telephone Consumer Protection Act. The ruling came in the case Barr v. American Association of Political Consultants, Inc., which had challenged the TCPA’s exception for government-backed debt.
ARLINGTON, Va.—Vehicle sales in June showed only a “modest” increase over volume in May. Sales during June rose to an annualized rate of 13-million units sold on an annualized basis, up from 12.3 million in May.
SAN FRANCISCO—During Q1 2020, consumers deposited nearly $1.1 trillion in their bank and credit union savings accounts instead of using it for personal consumption, according to the latest quarterly report from the Federal Deposit Insurance Corporation.
WASHINGTON–Credit unions that haven’t already rethought and repositioned any travel-related cards programs they might offer might want to do so in response to new research showing a majority of Americans don’t plan to travel for the remainder of 2020.
EL PASO, Texas–El Paso Area Teachers FCU said it has selected Credit Union Strategic Planning to elevate its diversity, equity and inclusion efforts to a strategic level, “so it becomes engrained in the credit union’s culture.”
SAVANNAH, Ga.–Atlanta Postal Credit Union is expanding into the Savannah market under the Center Parc Credit Union brand.
WASHINGTON–Human resources professionals within credit unions will have the opportunity to learn more about regulatory changes stemming from COVID-19 and how to better protect workers’ rights in addition to the health and safety of members and staff alike during a new virtual meeting, according to CUNA.
