FREEPORT, Bahamas–The CEO and COO of a Philadelphia credit union have arrived in the Bahamas and is reporting first-hand on the damage from Hurricane Dorian.
NEW YORK–Federal prosecutors in Manhattan have opened an investigation into possible lending fraud in the New York City taxi industry, and a number of now-defunct credit unions are expected to be involved.
FREEPORT, Grand Bahama–A credit union on this hurricane-devastated island has reopened its office–albeit with limited hours–and is working to service members.
NEW ORLEANS–The Fifth Circuit Court of Appeals here has ruled against the government’s 2012 decision to sweep all of the profits from Fannie Mae and Freddie Mac into the Treasury Department in a decision that could also have implications for the CFPB and its structure.
WASHINGTON—Congress has until Sept. 30 to pass the National Defense Authorization Act (NDAA) for fiscal year 2020 and both credit union associations are now back on the Hill lobbying to have language eliminated that would give banks equal access to military bases as credit unions.
WASHINGTON—Comments on a proposed delay of the current expected credit loss (CECL) standard and NCUA’s “Second Chance” proposal are among the items with comments due in the September.
ATLANTA–The 11th Circuit Court of Appeals has overturned a 2017 court ruling that had dismissed a potential class action lawsuit against LGE Community Credit Union over its overdraft practices.
DES MOINES, Iowa—Compromised gas pumps, coffee shops and restaurants operated by Hy-Vee – which operates more than 245 supermarkets throughout the Midwest – may have led to more than 5.3 million credit and debit accounts being exposed and sold online.
JACKSON HOLE, Wyo.–In comments at the conclusion of the Fed’s annual summer retreat here, Federal Reserve Chairman Jerome Powell said objective is to maintain the economic expansion, but also made an indirect reference to President Trump’s tariffs by saying “trade policy uncertainty” was the new challenge.
CINCINNATI—Consumers are willing to pay more for a leased auto today, while the strong interest in crossover vehicles in finally slipping.