A new report from the National Consumer Law Center suggests that the push to have more social security benefits deposited directly in recipients accounts has made those recipients vulnerable to payday lending.
When Wachovia Bank agreed to a settlement with the U.S. government, it became the financial institution with the unfortunate distinction of having paid the largest penalty, $160 million, for a violation of the Bank Secrecy Act.
Credit unions can develop customized versions of a model consumer privacy notice by using the Online Form Builder released today by the Federal Reserve, in conjunction with the NCUA and other regulatory agencies.
Touting a victory over "an army of lobbyists," President Obama today signed legislation that would take some of the student loan business away from credit unions and banks.
Just a few weeks into his new job as vice president of mortgage lending for the $1.3 billion Community First Credit Union,
Despite alleging different crimes, the three lawsuits targeting seized corporate credit unions have one thing in common: defendants are arguing plaintiffs don't have the right to sue because the charges are so-called "derivative claims."
In three separate lawsuits that involve U.S. Central Federal Credit Union and Western Corporate Federal Credit Union, defendants argue plaintiffs don't have the right to sue, because charges are so-called "derivative claims."