WASHINGTON—Following Sen. Elizabeth Warren’s (D-MA) request that the Department of Defense freeze a contract between the U.S. Marine Corps and $1.5-billion Frontwave Credit Union due to what she called “excessive” overdraft fees, the Defense Credit Union Council and America’s Credit Unions have responded.
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CHICAGO—In the latest legal effort to have credit unions included in the injunction against the Illinois Interchange Free Prohibition Act (IFPA), America’s Credit Unions, the Illinois Credit Union League, and other banking organizations filed a reply brief in support of the motion for summary judgment in the lawsuit challenging this new law.
WASHINGTON—Sen. Elizabeth Warren (D-MA) is asking the Department of Defense (DoD) to freeze a contract between the U.S. Marine Corps and $1.5-billion Frontwave Credit Union due to what she is calling “excessive” overdraft fees.
WASHINGTON—Legislation aimed at establishing a regulatory framework for U.S. dollar-pegged cryptocurrency tokens, known as stablecoins, encountered a setback on Thursday when it failed to pass a crucial vote in the U.S. Senate, Reuters reported.
WASHINGTON—CU Student Choice, the leading provider of higher education financing solutions to America’s credit unions, announced its student lending solutions will now be available to the members of $8.78-billion Desert Financial Credit Union, based in Phoenix.
WASHINGTON—Mortgage applications increased 11.0% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 2, 2025.
WOBURN, Mass.—The $58.1-million Common Trust Federal Credit Union plans to merge with $27.9 million Wellesley Municipal Employees FCU, based in Wellesley, Mass., the Common Trust reported.
MCLEAN, Va.--Mortgage rates did not move this past week, as the 30-year fixed-rate averaged 6.76%, Freddie Mac reported.
WASHINGTON—The Senate voted 52-47 to approve a resolution overturning a 2024 final rule that revised the Office of the Comptroller of the Currency’s (OCC) process for reviewing proposed bank mergers, the ABA Banking Journal reported.
WASHINGTON--The House Ways and Means Committee could mark up its portion of budget reconciliation next week, meaning the bill’s text would need to be released in the next few days, America's Credit Unions reported, noting credit union leaders met with key committee members this week.