News

Washington State has now joined its southern neighbor, Oregon, in enacting legislation to deposit public funds in credit unions.

CUNA wants any consumer financial products regulator not to have any examination powers for any credit union while the ABA wants no new consumer regulatory agency.

The new regulator of consumer financial products would be housed in the Federal Reserve and would have the ability to write rules, but most of enforcement would be done by the safety and soundness regulator.

Financial service firms hawking their wares are getting the cold shoulder from some retirees and pre-retirees who are opting for traditional solutions and managing their income on their own, a new study revealed.

The $8.4 billion Members United Corporate FCU has shed its ATM and debit card program SHARE SYSTEM, calling the service "unsustainable over the long term."

Ten more credit unions have signed on as users of the MoneyTracker PFM personal finance management solution from Jwaala, the company said.