AKRON, Ohio - (01/16/06) Med/Pro CU thinks it has abetter idea for members seeking short-term cash. As an alternativeto the high-cost payday loans a large number of its members havebeen pursuing, the $12 million credit union introduced its ownsolution last weekat a much lower cost. Called MemberAdvance Loans, members can sign up for regular advances for $35 ayear and a $15 processing fee for each advance. That entitles themto 12 advances of up to $500 a year, depending on the size of theirpaycheck. The loan is repaid from the members account whentheir next paycheck is deposited. As part of the program, membersmust agree not to use payday lenders.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
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The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
July 3