News

In what appears a new and innovative approach to payday products, the $200 Family Trust Federal Credit Union said today it is getting an "outstanding" public response to "Lifeline Advance" loans incorporating both a savings feature and a $35 program fee.

A report from a market research firm called Global Industry Analysts has estimated that the global ATM market is saturated at 1.65 million of the machines.

After 12 years at the helm, Fred Longstreth said he will retire July 1 as president/CEO of Fiberglas Federal Credit Union.

The Credit Union Regulatory Improvements Act has added seven more co-sponsors in the latter half of this week for a total now of 114 with primary sponsor Paul Kanjorski (D-Pa.).

NCUA has brought its Bank Secrecy Act Examination expectations to the same level as the other banking regulators after once being thought of in catch-up mode one expert told Credit Union Times' BSA conference yesterday.

Everest National Insurance has vowed to continue paying default protection insurance (DPI) on subprime auto loans purchased through the Centrix Portfolio Management Program (PMP), but a possible settlement is worrisome to officials at the NCUA and of concern to many credit unions as well.