News

In a move which may turn out to be controversial with some retailers, Visa announced today that it is clamping down on a retail policy that it said sometimes hurts consumers.

The Office of Thrift Supervision has reached an agreement with Woodforest Bank of Texas to pay a penalty of $400,000 and to refund an additional $12 million back to consumers who were charged excessive fees for overdraft protection.

LAS VEGAS -- By now, it's probably safe to say that the credit union industry is getting the message that engaging in some form of social media is essential to keep up with members.

LAS VEGAS -- At the core of innovation is probably realizing that failure could occur over and over and over again, Joe Batista, director and chief creatologist at Hewlett-Packard Co, told attendees today at NACUSO's annual conference.

All that "good press" about credit unions has certainly helped fuel the big gains in savings rates among southeast CUs.

An alternative plan for regulatory reform to be unveiled by Senate Republicans would create a consumer protection council, which wouldn't be empowered to be the main examiner of credit unions on consumer issues.

Members United Corporate FCU posted its March 2010 financial reports online today (www.membersunited.org/FinancialCenter.html); but, like the $8.5 billion institution's year-end figures, they do not include investment losses.

LAS VEGAS -- On the minds of many of the attendees and speakers at NACUSO's annual conference this week will likely be credit unions and their pressing challenge to remain sustainable.