SAN FRANCISCO–Add to the long list of offenses Wells Fargo has either admitted to committing or has been alleged to have done–overcharging small businesses for processing credit card transactions.
THE news
OTTAWA – The Canadian government says it is reviewing whether credit unions should be allowed to use the terms “banks,” “banker” and “banking,” after the country’s federal regulator had earlier issued a prohibition on the usage of the terms by CUs.
WASHINGTON–PHH Mortgage Corp. and PHH Home Loans have agreed to pay a fine of nearly $75 million to resolve allegations that they violated the False Claims Act.
QUEBEC CITY, Quebec–A group with one of the more unique histories in credit unions—in that it isn’t completely sure of its own history and isn’t limited to the types of credit unions its name implies—held its annual meeting here with approximately 400 people in attendance.
SAN FRANCISCO–The fake-account-opening scam that led to more than $185 million in fines against Wells Fargo and from which it has yet to recover may be even larger than believed.
NEW YORK–Losses on credit cards are growing among the nation’s biggest issuers.
WASHINGTON – The Consumer Financial Protection Bureau has acted against JPMorgan Chase Bank for failures related to information it provides for checking account screening reports.
DETROIT–The sale of new vehicles, especially trucks, has hit a pothole. As CUToday.info has reported, overall vehicle sales have been declining in recent months, but truck and SUV sales have remained strong. But new data show that trend line is changing.
TUMWATER, Wash.–The Great Eclipse of 2017 will arrive in North America on Aug. 21, and several credit unions have announced related promotions.
SAN FRANCISCO–Wells Fargo’s woes are not over, as a new program that charged customers for unneeded services has been revealed.