SAN FRANCISCO–Wells Fargo has announced it will pay shareholders $480 million to settle claims related to its phony accounts scandal.
THE news
ALEXANDRIA, Va.—NCUA has published a new supervisory letter (SL-18-01) that addresses compliance with the new Bank Secrecy Act (BSA) customer due diligence (CDC) and beneficial ownership rules.
SACRAMENTO, Calif.–A former executive of the NBA’s Sacramento Kings is suspected of siphoning off $13.4 million from two of the team’s top sponsors, including The Golden 1 Credit Union.
WASHINGTON–The credit union trade groups have joined with other trade organizations to call on Senate leadership to ensure regulatory relief language remains in the conference committee version of the 2019 financial services and general government appropriations bill.
MADISON, Wis.—Credit union loan balances rose 1.3% in June, faster than the 1.1% pace reported in June 2017, due to faster growth in new-auto loans (2.3% vs 1.2%) and fixed-rate first mortgages (1.5% vs 0.9%), according to CUNA Mutual Group’s August Trends Report.
WASHINGTON—Fannie Mae and Freddie Mac are ending their single-family rental pilot programs.
RIVERSIDE, Calif.–Altura Credit Union has launched an Emergency Loan Program for people impacted by recent wildfires, including non-members.
WASHINGTON–All Senate Democrats plus Bernie Sanders (I-VT) have signed a joint letter objecting to plans by the Bureau of Consumer Financial Protection to stop supervising lending made to active duty service members.
AUSTIN, Texas–There are now just two weeks left to register for the CUTomorrow Conference, the inexpensive, one-of-a-kind event that features the very best of the peer-group leading credit unions that have been highlighted in CUToday.info sharing proven strategies in lending, new member onboarding, employee onboarding, cost-control, walletshare growth and much more.
SACRAMENTO, Calif.–California’s Supreme Court has ruled that interest rates on consumer loans can be so high that they become “unconscionable” and, therefore, illegal.