JACKSON, Mich. – America 1 CU said it returned almost $157,000 to its members as a loan rebate.
To qualify for the loan rebate, members had to make their payments on a closed-end loan on time every month from April to December. If they did, they earned half of the interest they paid through December.
America 1 deposited the rebate dollars into member accounts on Jan. 7 and 8. Several members earned more than $1,000, while the average rebate was $272.
Equity Bancshares in Wichita, Kansas, had been looking for a way to establish a significant Iowa presence. By acquiring Lincoln Bancorp, which has 16 branches in the state, it's found a way in.
The institution is among the first users of an embedded banking platform from FIS that places financial services and payments inside of the business software.
Managed accounts are associated with higher employee contributions in defined-contribution retirement plans, the research firm found. Advisors working on employer plans might want to take note.
Colorado's Attorney General Phil Weiser is suing direct-to-consumer earned wage access provider EarnIn, alleging that the company violated the state's lending laws and challenging its claim that its product is nonrecourse. It is a sign of regulators' continued interest in EWA.
Developments at Freddie Mac, Fannie Mae and factory-built housing innovator Boxabl point to some expanded ways to make mortgages or HELOCs.
President Donald Trump Wednesday signed a continuing resolution to fund the government through December, averting a government shutdown at least until after November's elections.
