Volunteers from Hanscom Federal Credit Union in Massachusetts banded together to cook for guests at Fisher House Boston, an organization that provides accommodations for family members caring for veterans who have been hospitalized.
Children will be able to play basketball thanks to a donation from Sikorsky Credit Union. The Stratford, Conn.-based institution donated 15 basketballs to benefit a local community center's after-school program.
The Polish & Slavic Federal Credit Union in Brooklyn, N.Y., announced the recipient of its "rising star" scholarship. Timothy Kutyla, a member and world-class gymnast who attends the University of Minnesota, received the $5,000 award.
Santa Fe, N.M.-based Del Norte Credit Union sponsored its third Lego competition, an event that challenges children, who are divided into two divisions based on age, to build and problem solve.
Fifty blankets were collected by Naveo Credit Union in Somerville, Mass., and distributed to the community during a blanket drive. The CU participates in the statewide drive each year.
Point Breeze Credit Union in Hunt Valley, Md., donated $20,000 to help the Arc Northern Chesapeake Region increase its capacity and the services it provides. The Arc NCR assists those with intellectual and developmental disabilities to "live, work and thrive in the community."
SPIRE Credit Union in Falcon Heights, Minn., was the recipient of the Business of the Year award granted by the Mora Area Chamber of Commerce. The award recognized the credit union's growth and investment in the community.
Food for all
Medford, N.Y.-based Suffolk Federal Credit Union donated $1,000 to an organization that provides food to elementary schoolers over the weekend.
Pensacola, Fla.-based Pen Air Federal Credit Union sent a $25,000 check to a local community center in support of an early learning initiative called Brain Bags.
To celebrate a school spirit debit card program, Indiana Members Credit Union in Indianapolis sent a local high school a check totaling nearly $2,500.
The bureau released a five-year review of the so-called TRID regulation that found consumers benefited from being able to compare mortgage terms and costs, but the price tag for the industry was roughly $146 per loan.
While the two agencies have disagreed on key areas of reforming the Community Reinvestment Act, the acting comptroller of the currency said there is commonality between their two approaches and he has not given up on developing a joint plan.
The bank has contends that the misconduct was widespread, but a whistleblower letter unearthed by the Consumer Financial Protection Bureau points to Chicago as a hotbed of customer abuse. "We are becoming a 'predatory' financial institution," the 2010 letter said.
Harvest, a fintech founded by Nami Baral, has developed an alternative scoring method that amasses data on spending patterns, debt payments and even earnings potential to get a better sense of consumers' creditworthiness.
Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.