From Regulation B to Regulation Z and beyond, the Consumer Financial Protection Bureau inherited a number of regs from seven different agencies. In doing so, the CFPB has made it a priority to streamline regulations by updating, modifying and even eliminating some provisions.
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.
New CFPB rule governs all outgoing international wire transfers and ACH transactions.
Last spring, an unsuspecting elderly couple came into Alpena Alcona Area Credit Union in Alpena, Mich., to discuss a loan. Their loan interviewer, Jamaican Beaudoin, was helping them when the couple said two words that set off alarms that something was amiss.
Credit unions know they must get younger. Decreasing the average age of your membership is a strategic goal for many credit unions. There are several initiatives, such as Currency Marketing’s Young and Free, that are having a great deal of success. The Filene Institute also has given many ideas for...
Jack Henry & Associates is entering the person-to-person payments fray with an offering from its latest acquisition, iPay Technologies.
A recent Western Union survey finds that Gen Y is experiencing financial stress and difficulty in obtaining credit.
Provisions of a regulatory reform bill aimed at increasing disclosure requirements for financial institutions and other providers of wire transfer services violate the Uniform Commercial Code and could prevent credit unions from offering those services.