Fed says service is compliant now and will be going forward.
The Consumer Financial Protection Bureau’s proposed remittance regulations could force credit unions to stop providing the service, said CUNA and NAFCU in letters submitted to CFPB Executive Secretary Monica Jackson.
Trades say proposed CFPB remittance regulations would create too many barriers for credit unions to offer the service.
When asked how he sees the state of business services and lending among credit unions, Larry Middleman teeters on optimism and concern.
New CFPB rule governs all outgoing international wire transfers and ACH transactions.
Second corporate in a week to commit to Jersey City processor as U.S. Central Bridge closure approaches.
Ohio corporate says move will fill gap left by shutdown of ACH from U.S. Central Bridge.
Computer Marketing Corp. said it is adding integrated share draft processing to the ACH capabilities of its FLEX core processing platform.
Integrated share draft processing has been added to the FLEX core processing platform from CMC, the Sandy, Utah, company said.
MY CU Services, a CUSO of Mid-Atlantic Corporate Federal Credit Union, said it will now offer the ProfitStars ACH and payments management solutions to the corporate’s 800 credit union members and other corporates.