NEW YORK–The Taxi and Limousine Commission here has implemented several new rule changes as it seeks to stabilize the market for taxi medallions, which continue to sink in value and which have broad implications for credit unions—and not just those involved in medallion lending.
THE news
WASHINGTON–Despite pledges to cut financial regulations, the Trump Administration is exploring the return of a long-time stalwart of bank regulation: Glass-Steagall. Glass-Steagall was repealed in 1999.
ORLANDO—New data on the U.S. migration to EMV shows that 52% of merchants today are enabled to accept chip payments.
ARLINGTON, Va.– Conversions of federally chartered credit unions to state charters is continuing in 2017, according to analysis by NASCUS.
WASHINGTON—Credit unions that offer remittances services have another reason to keep a close eye on developments in D.C.
LA CROSSE, Wis.—Marine Credit Union has entered into an agreement to buy five retail branch offices from $2.6-billion Bank Mutual Corporation, based in Milwaukee.
INDIANAPOLIS–The bankruptcy trustee here responsible for unwinding the assets of the defunct ITT Educational Services has filed suit against five credit unions over a joint loan program.
SAN FRANCISCO–Wells Fargo has agreed to pay $110 million to settle a class action lawsuit related to the opening of more than $2 million bogus customer accounts.
MADISON, Wis.–Credit unions added 338,000 memberships in January, bringing the official total membership to 110.0 million, while lending was also robust, according to latest data from CUNA Mutual Trends Report.
WASHINGTON–The failure by Congress to pass legislation that would have replaced Obamacare with the American Health Care Act has “complicated” credit union plans for regulatory reforms.