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Former Payday Lending Employees Back Up Critics' Objections

By David Morrison

WASHINGTON -- The three former payday lending employees have largely backed up some of the most explosive criticisms that opponents of the controversial lending business have made: that payday lenders target members of minority groups and manipulate borrowers into long term indebtedness.

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Three Payday Lending Employees Defect From Controversial Industry

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Kinecta Goes with Online Resources for Bill Pay

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September 12, 2007

Kinecta Goes with Online Resources for Bill Pay

Kinecta Federal Credit Union is now using bill pay and other online services from Online Resources Corp. atop its Episys core processing system.

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September 12, 2007

Experts Say Youngsters, Indirect Borrowers, Retirees All Important for Growth

With the average age being 47 for members nationwide, credit unions aren't attracting younger members or retaining older members, but both population segments are still critical to growing membership, several experts recently shared.

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September 12, 2007

Automation Helps Boost BSA Compliance Confidence, Survey Finds

The use of technology in Bank Secrecy Act and anti-money laundering programs by some credit unions and community banks helps to boost their compliance with BSA requirements, according to a recent survey conducted by Wolters Kluwer Financial Services.

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September 12, 2007

NCUA Files to Dismiss CCUCO Case

The NCUA has filed briefs with Federal District Court for the Eastern District of Virginia seeking to have the court dismiss a case brought by the Coalition for Credit Union Charter Options against its regulations governing the CU to bank charter conversion process.

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September 12, 2007

New NCUA MBL Officer Ross to Keynote Business Lending Summit

Margaret Dengler Ross, NCUA's member business lending program officer, which is a new position created by the agency, will be the keynote speaker at Member Business Lending, LLC's Leadership Summit in October.

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September 12, 2007

Consumer Groups Decry Bank of America ATM Fee Hike

A coalition of consumer groups has united to protest Bank of America's most recent hike of its ATM fees. The banking giant took the fees on many of its machines, particularly those in branches in major markets, from $2 to $3.

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September 11, 2007