DETROIT– Two area credit unions will offer free tax-filing services and financial education to qualifying, low-income residents through a partnership with the Detroit-based Community Tax and Resource Center. Communicating Arts CU and Dearborn Village Community CU have partnered with the Center to help struggling families build assets, avoid predatory lenders and develop sound financial skills. The Center will link its tax services for low-income households with local community groups that provide asset-building tools and education, including the two credit unions. Visitors to the Center will also gain access to information on heating bill assistance, legal services, building toward home ownership, Individual Development Accounts, property tax screening and self employment/micro-enterprise programs.
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Part of the growing "phishing-as-a-service" economy, the Spiderman kit offers novice hackers sophisticated tools to target customers of major EU institutions.
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Banks may need to offer people over the age of 65 more than just digital experiences, according to an executive at J.D. Power, which surveyed more than 11,000 retail banking customers.
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In a move some industry observers call "dangerous and irresponsible," the administration is taking down consumer protection guardrails that have been put up by states like California and Colorado.
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Rohit Chopra is named senior advisor to the Democratic Attorneys General Association's working group on consumer protection and affordability; Flagstar Bank adds additional wealth-planning capabilities to its private banking division; Chime promotes three members of its executive leadership team; and more in this week's banking news roundup.
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The Office of the Comptroller of the Currency Friday approved national trust charter applications for five crypto firms, affirming the administration's push to allow crypto companies the ability to take deposits.
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Kansas City Federal Reserve President Jeffrey Schmid and Chicago Fed President Austan Goolsbee said in statements Friday that their dissents from this week's interest rate decision were spurred by inflation concerns and a lack of sufficient economic data.
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