ALEXANDRIA, Va. – Pentagon FCU yesterday announced it has agreed to become the preferred financial services provider for the Military Officers Association, which will expand its field of membership to the Navy and Marine Corps.
The $10 billion credit union currently serves members of the Army, Air Force, Coast Guard, Department of Defense and Department of Homeland Security.
Under the deal, the MOAA will promote the credit union’s services and products to its 367,000 members nationwide, while the credit union will promote membership in the organization.
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Sens. Ed Markey and Ron Wyden argue that the Small Business Administration neglected to warn small firms of the risks of merchant cash advances and closed off a key "escape route" from the resulting debts.
May 15 -
In a move seen to bolster his 2028 presidential run, California Governor Gavin Newsom named Rohit Chopra, the former director of the Consumer Financial Protection Bureau, to lead a new oversight agency; a Pine Bluff, Arkansas, bank employee was sentenced to 36 months in federal prison for bank theft; a Fairfax, Virginia, security administrator has been charged with allegedly stealing more than $6.6 million from his employer; and more in this week's banking news roundup.
May 15 -
New Federal Reserve stats show most consumers carry and store paper money, even as digital payments become mainstream.
May 15 -
The Mississippi lender's pending acquisition of OFB Bancshares, the parent company of One Florida Bank, offers an entry point into the fast-growing Orlando market.
May 15 -
At some banks, executives are overpromising results and putting tremendous pressure on tech teams, leading to a range of problems.
May 15 -
Fund managers are seeking to change the way banks think about Community Reinvestment Act investing.
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