Regulatory & Compliance

The New York Times has taken a stand critical of a proposed federal law which would cap the interest and fees from payday loans at 15% across the country.

NAFCU President Fred Becker today asked the Senate Banking Committee to take "immediate action" on NCUA's proposal to create a stabilization fund for corporate credit unions but suggested changes to the plan, including expanding the repayment period.

Payday lenders are attacked a piece of federal legislation aimed at protecting consumers from so-called payday loans by noting overdraft protection plans do not face similar regulations.

Making good on a campaign promise, President Obama is expected today to ease money transfer and travel restrictions for Cuban Americans with their native country and allow greater satellite communications between the countries.

The economy shows some signs of improvement but there is a still a way to go, President Obama said today.

Michigan's Office of Financial and Insurance Regulation ordered an entity that claimed to be a credit union to stop doing business.