WASHINGTON–After receiving nearly 190,000 comment letters, the CFPB said it expects to have a final, revised rule on payday lending in place by April of 2020.
Fresh Today
WASHINGTON–A new survey finds credit unions are far better at supporting their members' feelings of wellbeing than banks are—but the numbers are also relative, as across seven-of-eight attributes CUs were never scored higher than 30% by their members when it comes to helping improve their lives.
WASHINGTON–The one-year anniversary of Kathleen Kraninger as director of the Consumer Financial Protection Bureau has been met with everything from a long press release from the agency itself highlighting her leadership, to sharp criticism from a consumer group, to a meeting with credit union league executives to Supreme Court decisions that, ironically, should the CFPB get its way, would water down Kraninger’s authority.
RANCHO CUCAMONGA, Calif. – Credit and debit cardholders appear to be spending more on their holiday shopping this year as compared to last, according to CO-OP Financial Services’ analysis of card transaction data from Thanksgiving Day through Cyber Monday.
WASHINGTON—This holiday season the average consumer will spend more than $1,000 on gifts and related expenses and credit unions are there to ensure consumers maintain their financial health, CUNA Chief Advocacy Officer Ryan Donovan wrote to all 535 Congressional offices.
WASHINGTON–Fannie Made and Freddie Mac are scaling back on some mortgages aimed at helping make homeownership more affordable, including the proportion of loans made to borrowers with small down payments and mortgages to deeply indebted borrowers, according to one new report.
RICHMOND, Va.–Oral arguments are set to be heard here on Jan. 6 as part of a challenge to a field of membership expansion request by Virginia Credit Union.
AUSTIN, Texas–Sync 1 Systems has introduced a new solution that allows a member to open up an auto loan request via a mobile device, enter some details about the loan, and then receive funding for the loan from the credit union rather than from the dealer.
MONTREAL – The Desjardins Group is now acknowledging a former employee who stole the personal data of 4.2 million members of financial co-operatives in Quebec also gained access to information for 1.8 million credit card holders, but it said none of that information has been provided to third parties.
FAIRFAX, Va.–Fairfax County FCU has changed its name. The credit union is now called NextMark FCU.