WASHINGTON—The Federal Trade Commission and the State of Florida have entered into a settlement with Chargeback911 and its owners that will prohibit the company from working with certain high-risk clients and using deceptive tactics to stop consumers trying to dispute credit card charges through the chargeback process.
Fresh Today
NEW YORK–With the talk among credit unions and other employers having recently been all about “quiet quitting,” the “great resignation” and the “war for talent,” many employers say they are now being challenged by just the opposite: not enough workers are leaving.
WASHINGTON —The nation’s 4,614 commercial banks and savings institutions insured by FDIC reported aggregate net income of $68.4 billion in third quarter 2023, down $2.4 billion (3.4%) from the prior quarter, according to new data from the regulator.
WASHINGTON—Ahead of yesterday’s testimony before the House by CFPB Director Rohit Chopra, CUNA and NAFCU sent a letter to the House Financial Services Committee in which they shared several key areas of concern with CFPB policies.
WASHINGTON—In a letter to a House subcommittee, CUNA said it is concerned the Department of Labor’s overtime proposal—while it attempts to strike a balance between the 2016 and 2019 overtime rules—will have negative impacts on credit unions in rural and low-cost areas.
SALT LAKE CITY—As part of Giving Tuesday, Mountain America Credit Union and its Mountain America Foundation reported they surprised 26 nonprofit organizations with a total of $28,000 across the credit union’s six-state footprint.
CUPERTINO, Calif.–What was once launched with great fanfare is headed the way of a deleted app. Apple has sent a proposal to Goldman Sachs in which it is seeking to exit its contract with the bank for financial services provided to consumers. It is seeking to end the deal, which includes the entirety of the consumer partnership, including the credit card in the next 12 to 15 months, according to the Wall Street Journal.
DES MOINES, Iowa–Jim Dean, CEO of Affinity Credit Union, has announced plans to retire. A successor has been named.
WASHINGTON–Demand for commercial loans declined slightly in the period leading up to Nov. 17 as part of a broader slowdown in the overall economy, according to newest Beige Book data released by the Federal Reserve.
WASHINGTON–The Defense Credit Union Council (DCUC) has sent a letter to Congress urging support for S. 539, the Veterans Member Business Loan Act, which would exempt business loans made to veterans from current credit union business lending caps.