At the CFPB, a checking account is a right, not a privilege.
CUNA Mutual, the NCUA and trades respond to the CFPB's announcement it will review checking account screening procedures.
As if credit unions didn't have enough regulatory burden already, the CFPB threw another iron into the fire when it hosted an Oct. 8 forum on checking account accessibility.
Bluebird, the new prepaid card product being rolled out by Walmart and American Express, will provide banks and credit unions with additional competition in transaction accounts and technology.
Filene researcher does see increased competition from Amex/Walmart offering, while Latino Community CU, Consumers Union say full-service still needed.
PHILADELPHIA — “You know that line about ‘if you build it, they will come?’” asked Oscar Torrealva, branch manager at the $1.3 billion TruMark Financial Credit Union's branch in the financially strapped Eastern North Philadelphia.
If TruMark Financial Credit Union had evaluated the site of its branch in northeast Philadelphia solely only on the statistics, they may never have opened it.