JAY, Me. – Otis FCU said it paid its members a 7% bonus amounting to $450,000 for 2008.
The $100 million credit union refunded 7% of the interest paid on all members’ consumer loans, real estate loans and visa credit cards paid in 2008, and 7% of the dividends members received for the year.
The 7% payout was the same rate paid in 2007. It was the fourth straight year the credit union paid members a bonus.
The 10 winning innovations span categories from AI and payments to risk and compliance. An overall winner will be announced at American Banker's Digital Banking event on June 2.
A representative for the bank said JPMorganChase is still dedicated to venture capital investors and new businesses.
A federal judge has ordered FDATR, a now-defunct student loan debt relief provider, to pay $43 million in restitution and fees, bucking the trend of cases brought by the Biden administration-era Consumer Financial Protection Bureau being dropped.
BNY's chief commercial officer talks about AI, tariffs and her efforts to help create a leaner, meaner bank.
The Consumer Financial Protection Bureau under President Trump plans to make changes to the rule governing consumer financial data rights despite rare bipartisan support for the regulation.
Treasury Secretary Scott Bessent argued that tight bank regulations are driving the growth of private credit, which he thinks reinforces the case for deregulation.
