News

The federal law, which will prevent members of the military from being charged more than 36% for most sorts of loans, goes into effect on Monday and has earned the praise of three long-term opponents of payday lending.

Credit unions and banks are being called on by the Small Business Administration to help provide capital to entrepreneurs in some of the country's most rural areas through a series of new programs.

NAFCU Services Corp. has added Investment Advisory Services from CUNA Mutual Group to the suite of solutions offered as part of the association's Preferred Partner program.

The Securities and Exchange Commission is looking to expose the growing number of unregistered entities engaged in solicitations of securities transactions by posting complaints about such firms on the agency's Web site.

Glenn Cipriano has been promoted to president of Alaska USA Trust Company, a subsidiary of $2.9 billion Alaska USA Federal Credit Union.

The $180 million Continental Federal Credit Union, headquartered in El Segundo, Calif., has moved its 15,000-card debit portfolio to PSCU Financial Services. PSCU Financial Services is the payment processing CUSO that serves over 500 credit unions who use the First Data Corp. card platform.