Attorney Files Suit Over $5 Fee
LOUISVILLE, Ky. -An attorney here has filed a lawsuit against Louisville Medical Center FCU over the $5 fee charged non-members to cash a check. Attorney Steve Snow filed suit in Jefferson District Court against the CU, claiming its in violation of Chapter 355 of the Commercial Code of the Kentucky Revised Statutes. Snow had been given a $150 check by the patient of a doctor who had hired the attorney to collect money. After the check bounced at Snow's bank, he said he was informed the account had been replenished in the account of the member at LMCFCU. The credit union's standard policy is to charge non-members the $5 check-cashing fee. The lawsuit names Ray Kirkland, president of the CU, as a party to the suit.
Rule Seems To Bar Sending Faxes
WASHINGTON-CUNA was meeting last week with representatives of the Federal Trade Commission over a potential glitch that could prohibit the trade group from sending faxes to its affiliated leagues and individual credit unions. Buried in the otherwise popular, new "Do Not Call" legislation that allows consumers to block telemarketers' calls is a provision that appears to bar nonprofit trade groups from sending faxes to various parties, unless they "opt in." "We do not believe this is what Congress intended to implement," said CUNA's Gary Kohn. At the heart of CUNA's message is that by belonging to a state league or trade association, the recipients of such e-mail and faxes have essentially opted-in by default. Among others lobbying for a clarification: the American Society of Account Executives.
NAFCU Presses To Save Bonds
ARLINGTON, Va.-NAFCU has sent a letter to Treasury urging it to rethink a plan under which sales of U.S. Savings Bonds will be limited to online purchases. The paper-based bonds, a long-time staple at many CUs, are to be phased out. "We're suggesting they keep the option of the paper bonds alive for at least five years," said NAFCU's Gwen Baker, "and give people time to adjust to the change." Another concern raised by NAFCU: Online sales mean those without Internet access will be unable to save using savings bonds.