Payments/Credit/Debit

A CUNA representative drew the House Financial Services Committee a stark picture of the difficulties many consumers would face if the Committee moved forward with proposed changes to laws regulating overdraft protection.

A NAFCU representative told a hearing of the House Financial Services Committee that limiting overdraft fees to one a month per account would not be workable since credit unions and their members are not the only parties to an overdraft.

Navy Federal Credit Union is anticipating a ribbon-cutting ceremony on Oct. 31 to celebrate a new ATM at Camp Lemonnier, a military facility supporting U.S. anti-piracy and anti-terrorism operations on the horn of Africa.

Credit Union 24 has announced that three more credit unions have joined the network. The addition brings 35,000 more credit union members and 225 million more in assets to the national credit union-owned ATM and EFT network.

An asset and liability management consultancy argues that many credit unions risk giving up a unique and powerful niche in the overall credit card market if they rush to change from fixed rate credit cards to those with variable rates.

A new study from the Pew Charitable Trust has found that every one of the credit cards offered by the country's 12 largest credit card issuers are bad deals for consumers and have practices the Federal Reserve has defined as "unfair or deceptive."