Advanced search

WASHINGTON—The Federal Trade Commission, through its refund administrator, is mailing 690,000 checks totaling more than $152 million to consumers who lost money to a massive payday lending fraud scheme operated by AMG Services, Inc. and the company’s owner, Scott Tucker.

MADISON, Wis.– CUNA Brokerage Services, a unit of CUNA Mutual, is reporting it has completed its conversion to LPL Financial’s Institution Services platform.

WASHINGTON–Sixteen candidates supported financially by credit unions in this week’s primaries in three states have won their races or are headed to a runoff, according to the Credit Union Legislative Action Committee (CULAC).

WASHINGTON—Ahead of a hearing on reauthorization and reform of the National Flood Insurance Program, NAFCU has sent a letter to the House Financial Services Subcommittee on Housing, Community Development, and Insurance sharing its support for the long-term authorization and continued modernization of the NFIP.

ARLINGTON, Va.–The downturn in the price of  various bitcoin combined with stablecoins that have proved to be not so stable has led to renewed interest in Washington over bringing more oversight to the cybercurrency landscape. That’s a move that would be welcomed by NAFCU, said VP-Legislative Affairs Brad Thaler.

WASHINGTON—The nation’s federally insured banks reflect aggregate net income of $59.7 billion in first quarter 2022, a decline of $17.0 billion (22.2%) from a year ago.  An increase in provision expense drove the annual reduction in net income, according to the FDIC.

ARLINGTON, Va.—New home sales fell 16.6% in April to 591,000 annualized units, while March saw a downward revision of 54,000 units. The sales slowdown comes even as rates have declined nationally for a second straight week.

LONDON—The U.K.’s financial regulator has urged the country’s so called “challenger banks” and fintechs to improve their anti-money laundering (AML) and fraud controls after highlighting multiple shortcomings.

WASHINGTON–The dwindling rate of homeownership isn’t just due to high home prices, but also to lenders not making enough small-dollar mortgages that help families with modest incomes to purchase a property, according to the Center for Responsible Lending.

CHARLOTTE, N.C. –Bob Bruns, president and CEO of Charlotte Metro FCU, has announced plans to retire.