CHICAGO–New research from TransUnion reports to have found that up to 92 million credit-active consumers would experience some type of monthly debt service payment increase if the Federal Reserve Board raises interest rates by 25 basis points (0.25%).
CLOVIS, N.M.–The $39-million High Plains Federal Credit Union here has agreed to merge into the $20-billion Pentagon FCU. The merger came at the prompting of PenFed, the credit unions said in a statement.
ALBANY, N.Y.—New York has become the first state to propose a cyber security regulation to protect consumers and financial institutions.
WASHINGTON–Sen. Elizabeth Warren (D-MA) is marking the eighth anniversary of Lehman Brothers’ bankruptcy with a renewed effort to investigate—and perhaps even jail—more than two-dozen individuals and corporations who were referred to the Justice Department for possible criminal prosecution in 2011 by the Financial Crisis Inquiry Commission, according to Bloomberg.
SALT LAKE CITY–The first lawsuit has been filed against Wells Fargo by customers in the wake of news the bank had for years been charging fees to customers for accounts they had never opened.
WASHINGTON–Credit unions will be out in force in Washington this week as NAFCU kicks off its annual Congressional Caucus.
CLARKSTON, Mich.–Although there had been talk of a potential plea deal, authorities now say that Michael LaJoice, the former CFO at the now-defunct Clarkston Brandon Credit Union who allegedly admitting to stealing $20 million, will go to trial. The trial is set for Dec. 12.
ALEXANDRIA, Va.—NCUA has sent a Letter to Credit Unions reminding them that they must be ready to receive same-day automated clearing house (ACH) credit transactions on Sept. 23.
LIBERTY LAKE, Wash.–With the Sept. 23 deadline set by the Fed to start receiving same day items via ACH nearly here, CU*Northwest is reporting it has been testing and fine-tuning procedures to be ready.
WASHINGTON–Average rates on the 30-year fixed-rate mortgage have increased to their highest level since June, new Freddie Mac survey data shows.
