The Ohio Credit Union League has launched a consumer information website at www.OhioConsumers.org. The launch coincided with National Consumer Protection Week, Feb. 1-7 The site features consumer protection information and links to other sites where Ohioans can find information on protecting themselves from fraud, identity theft, and scams. The site also includes a section for educators who want to teach their students about personal finances. "We know that when it comes to financial education, ignorance can be very costly," said OCUL CEO Paul mercer. We've created the new consumer site to help Ohioans learn more about finances and avoid scams." The Ohio Credit Union League partnered with Ohio Attorney General Jim Petro, the Ohio Consumers' Counsel, the U.S. Postal Service, and The Ohio State University Extension Office to promote National Consumer Protection Week.
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The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
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The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
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At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
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Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
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The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
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Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24