Two long-term opponents of payday lending said that nine federal credit unions in five states continue to offer members payday loans with triple-digit interest rates.
Consumer advocates say most credit unions cited in 2010 have abandoned the practice.
Industry isn’t swarming into western North Carolina, but tourism attracts lots of visitors, positioning local businesses as the economic heartbeat of the area.
Five of the eight winners of the Center for Financial Services Innovation second round of Financial Capability Innovation Fund awards are either offshoots of credit unions, have credit unions partners or have a history of working with credit unions.
A new report from the Center for Responsible Lending has documented that payday lending at six large banks is continuing, and the reported alleged it is damaging consumers financially.
Three community development credit unions in California have received an interest-free, $1.25 million deposit from CUNA Mutual Group to stimulate development in their underserved areas.
Insurer places $1.25 million in interest-free deposits with three credit unions serving underserved areas.
A lawsuit filed more than three years ago arising from a dispute over a credit union to bank charter change attempt is still dragging on through the Texas courts and promising depositions of many involved in the charter change business.
Financial education continued to provide the predominant theme underpinning the National Credit Union Foundation's most recent round of grant making, with the NCUF continuing to fund projects that it believes strike at an enduring financial problem effecting a broad swath of American consumers.
Fourteen credit unions and organizations that work with credit unions received $1.5 million each from the latest round of awards from the U.S. Treasury's Community Development Financial Institutions Fund. Their totals were part of more $28 million that went to 27 credit unions and supporting organizations.