CARLSBAD, Calif. – Joining a growing list of credit union-partners, Heritage Community Credit Union is the latest to align with XCU Capital Corp., a credit union owned broker/dealer. Heritage, the eleventh credit union to partner with XCU Capital this year, has 32,000 members and more than $180 million in assets. The credit union signed an agreement with XCU Capital on Aug. 30 to provide investment and insurance products to its members via HC Financial Partners, a wholly-owned subsidiary of HCCU. XCU Capital has 22 credit union clients with more than 2.4 million members having access to its financial advisors nationwide.
Both sides of the debt collection rules debate are not happy with the results so far.
Federal law sets the interest rate cap at 15%, but the NCUA board may temporarily increase it above the cap for 18 months.
According to the agency’s Spring 2019 regulatory agenda, this issue will not receive any regulatory action within the next 12 months.
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