Nerd Wallet

DECEMBER 9, 2020

Serving people who serve their country is what military banks and credit unions do best. Our favorite military-focused financial institutions offer a combination of account options, competitive rates and low fees — as well as flexibility for families who face frequent moves or deployments. + Twitter: @SpencerNerd.

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Troutman Sanders

DECEMBER 17, 2021

The National Credit Union Administration (NCUA) — the federal regulator that oversees credit unions — announced that credit unions may partner with third-party digital asset service providers to give members access to cryptocurrencies and other digital assets.

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Troutman Sanders

AUGUST 15, 2023

This filing comes just three days after CUNA and the National Association of Federally-Insured Credit Unions (NAFCU) sent a joint letter to the CFPB urging it to stay enforcement and implementation of the Final Rule for all covered financial institutions until after the U.S.

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Troutman Sanders

AUGUST 9, 2023

Supreme Court’s final decision in Community Financial Services Association (CFSA) v CFPB. Given the effect of the [injunction order] on the overall distribution of compliance burdens across the financial sector, we ask that you consider broader relief.”

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Collection Industry News

FEBRUARY 14, 2022

LUBBOCK, Texas (KCBD) – The grand opening for Capital Federal Credit Union is scheduled to happen at 3 p.m. So the Lewises and a few others started a credit union. Harper, chairman of the National Credit Union Administration, which chartered the new credit union. Source- site.

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Collection Industry News

JUNE 27, 2023

Banks and credit unions rarely see eye-to-eye, so it was no surprise when Dan Berger, president and CEO of the National Association of Federally-Insured Credit Unions, called out “greedy” bank executives responsible for recent bank failures. LONG BEACH, Calif.

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Nerd Wallet

SEPTEMBER 18, 2020

NerdWallet’s experts have reviewed and rated dozens of banks and credit unions to help you find those with the best accounts, branch and ATM availability, customer service and more. The article Bank and Credit Union Reviews from NerdWallet’s Experts originally appeared on NerdWallet. NerdWallet is a writer at NerdWallet.

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Jimerson Firm

JANUARY 31, 2023

Banks and credit unions should not only routinely require, but also closely scrutinize, criminal background checks during the hiring process in order to maintain compliance with applicable regulatory schemes. The SBA regulations will apply to both banks and credit unions that process SBA loans. emphasis added).

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Fico Collections

OCTOBER 26, 2021

5 Ways Credit Unions Can Be More Resilient with AI and Analytics. Credit unions are sitting on a lot of risk right now. This COVID pandemic aftershock is about to hit the financial services industry, which means that credit unions need to pay close attention to their capital, asset quality, earnings, and liquidity.

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Fico Collections

AUGUST 19, 2022

Tackling the Fintech Threat: A Guide for Banks and Credit Unions. What financial institutions need to compete with fintech threat disrupters. billion globally in 2021 – banks and credit unions are losing their status as the primary financial services providers to American consumers. by Darryl Knopp.

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Troutman Sanders

APRIL 6, 2021

Five federal banking regulatory agencies are gathering information and comments on financial institutions’ use of artificial intelligence (AI), including machine learning. The RFI notes that financial institutions have been and are exploring AI-based applications for a variety of purposes.

Financial Institution 52

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Fraser

JUNE 16, 2021

House of Representatives passed the Secure and Fair Enforcement Banking Act of 2019 (“Safe Act”), which would prohibit regulators from terminating or limiting either deposit or share insurance of a financial institution for doing business with a cannabis company. In March 2021, revised versions of the bill were introduced in the U.S.

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Troutman Sanders

OCTOBER 18, 2022

million student checking and credit card accounts that are governed by partnerships between institutions of higher education and financial services providers, and it highlighted market trends and possible risks. The report reviewed agreements and data covering the over 1.2

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Collection Industry News

SEPTEMBER 12, 2022

University Credit Union, September 08, 2022. 8, 2022 /PRNewswire/ — University Credit Union (UCU) is excited to announce its newest partnership with UC San Diego. About University Credit Union: University Credit Union, a federally-insured financial cooperative, was founded in 1951 on UCLA’s campus by faculty and staff.

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Credit Corp

DECEMBER 4, 2023

Read on to learn how Credit.com can help you boost your financial knowledge and better understand how CD rates work. Key Takeaways Certificates of deposit (CDs) are savings accounts that brokerage firms, commercial banks, credit unions, and other financial institutions offer for set amounts of time.

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Consumer Finance

JUNE 28, 2023

The Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,460 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.

Credit Unions 52

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Troutman Sanders

OCTOBER 13, 2023

On October 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion regarding § 1034(c) of the Consumer Financial Protection Act (CFPA), which requires large banks and credit unions to comply in a timely manner with consumer requests for information concerning their accounts.

Banks 52

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Nexa Collect

NOVEMBER 26, 2022

As per FTC, starting June 9, 2023 all collection agencies will be treated as financial institutions. When consumers turn to a financial institution for services, they want to know that their private information is being kept safe and sound. Providing financial advising. Credit union. Collecting debt.

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Credit Corp

MARCH 26, 2024

A cashier’s check is a check issued and guaranteed by a financial institution such as a bank or credit union. To get a cashier’s check, you’ll go to a bank or credit union, preferably one where you have an account. Actual amounts depend on the issuing bank or credit union.

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Troutman Sanders

SEPTEMBER 5, 2023

On August 18, the American Financial Services Association, Consumer Bankers Association, CRE Finance Council, Equipment Leasing and Finance Association, Mortgage Bankers Association, National Association of Federally-Insured Credit Unions, Truck Renting and Leasing Association, and the U.S.

Trade 52

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Consumer Finance

JUNE 16, 2022

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2021 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,338 U.S. financial institutions.

Credit Unions 54

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Troutman Sanders

JULY 20, 2023

There are 35 early adopter banks and credit unions, with the idea being that FedNow will eventually be adopted by the majority of banks and credit unions in the U.S. Financial institutions will provide their customers with access to the instant payments through new features on their mobile apps and banking websites.

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Troutman Sanders

JULY 21, 2022

Del-One Federal Credit Union , plaintiff Joanne Miller alleged that the defendant credit union violated Regulation E, promulgated under the Electronic Fund Transfers Act and administered by the Consumer Financial Protection Bureau (CFPB), as well as committed fraud under the Delaware Consumer Fraud Act.

Credit Unions 52

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Troutman Sanders

FEBRUARY 14, 2024

Sections 521-523 are codified as § 27 of the Federal Deposit Insurance Act, § 4(g) of the Home Owners’ Loan Act and § 205 of the Federal Credit Union Act. The bills are intended to prevent out-of-state financial institutions from charging rates higher than the rates otherwise permitted by Rhode Island and Minnesota.

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Nerd Wallet

MAY 23, 2022

According to the Federal Reserve’s 2021 Small Business Credit Survey, banks remain the most common source of credit for small businesses — compared with options such as online lenders, community development financial institutions or credit unions. Randa Kriss writes for NerdWallet.

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Troutman Sanders

OCTOBER 3, 2023

Under the CFPB’s proposed timeline, SERs have only a few weeks to review the outline, which includes highly complex and sweeping changes to the FCRA that will fundamentally alter current practices and compliance regimes for businesses and financial institutions.” The trade groups requested a two-week extension to provide feedback.

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Consumer Finance

APRIL 25, 2023

Five federal financial institution regulatory agencies in conjunction with the state bank and state credit union regulators (collectively, agencies) are jointly issuing this statement to remind supervised institutions that U.S. dollar (USD) LIBOR panels will end on June 30, 2023.

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Troutman Sanders

DECEMBER 20, 2023

The report found that roughly a quarter of consumers are still being charged these fees despite the CFPB’s hostility towards so called “junk fees,” which has led many banks and credit unions to eliminate such fees.

Credit Unions 52

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Troutman Sanders

AUGUST 10, 2023

Supreme Court’s final decision in Community Financial Services Association (CFSA) v. The banking trade groups argued that relief should be provided to banks nationwide to “be prudent and ameliorate confusion.”

Banks 52

Banks Credit Unions Credit Unions Financial Institution 52

True Accord

JUNE 6, 2023

Where data has its own intrinsic value and where data breaches and cyberattacks are a risk for every business, the Safeguards Rule under the Gramm-Leach-Bliley Act (GLBA) provides financial institutions, including those in the accounts receivable management industry, with guidance on how to safeguard customer information.

Financial Institution 71

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Troutman Sanders

JANUARY 6, 2023

15, 2022, the Federal Financial Institutions Examination Council’s (FFIEC) Task Force on Consumer Compliance adopted revised examination procedures for the Fair Debt Collection Practices Act (FDCPA) and its implementing regulation, Regulation F. OCC examiners will rely on this new interagency guidance instead. FFIEC is a U.S.

Fair Debt Collection 52

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Troutman Sanders

OCTOBER 27, 2023

Supreme Court reverses the Fifth Circuit in Community Financial Services Association v CFPB (CFSA case), which found the CFPB’s funding structure unconstitutional. CFPB injunction and those that were not covered, but the Bureau had not granted such petitions to date.

Lender 52

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Nerd Wallet

MAY 18, 2021

Most SBA loans are issued by banks, credit unions and other financial institutions, not the government. The best lenders have substantial experience with these small-business loans, so you get effective help during the application process and hopefully increase your chances of approval.

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Lender Credit Unions Credit Unions Financial Institution 60

Troutman Sanders

FEBRUARY 21, 2023

The Effective Date Fails to Consider the Impact on Small Issuers and Community Financial Institutions; Small issuers will have difficulty getting the attention of national networks and service providers and will be stuck at the back of the queue or cobbling together a patchwork of more regional, and potentially less reliable or scalable networks.

Banks 52

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Payment Savvy

MAY 16, 2023

The backbone of these developments is none other than America’s Automated Clearing House (ACH) which facilitates seamless electronic transactions between banks and financial institutions within its network. Instant ACH transfers have gained prominence as they cater to the increasing demand for expedited financial transactions.

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Credit Corp

MARCH 6, 2023

Quick answer: You can try joining a credit union, signing up for a starter credit card, getting a credit card through your current bank, applying for a secured credit card, becoming an authorized user on another person’s account or taking out a credit builder loan.

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Nerd Wallet

NOVEMBER 29, 0002

Since 1933 the Navy Federal Credit Union, a nonprofit organization, has been serving the armed forces, veterans, and their families. Their mission of being the “most preferred and trusted financial institution serving the military and their families” still rings true today.

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