Fintech

WASHINGTON — More than 442,400 consumers were affected by the Oct. 12 glitch that froze RushCard users' funds after a payment processor switch, the company told lawmakers.

Scott Credit Union declared a bonus dividend and loan interest rebate, giving back more than $1.3 million to its members.

The debate over whether signatures or PINs are a stronger security feature overlooks the fact that neither is the most important defense against fraud.

The National Credit Union Foundation's financial literacy program for children, Biz Kid$, will receive proceeds from the 2015 San Diego County Credit Union's Poinsettia Bowl.

Hiway Federal Credit Union in S.t Paul, Minn., has renewed its partnership with the National Hockey League’s Minnesota Wild to be the team’s credit union sponsor.

Total loans at federally insured credit unions reached $769.5 billion at the end of the third quarter of 2015, a 3.3% jump from the second quarter; and a 10.7% surge from the third quarter of 2014, according to statistics released by NCUA.

Chief Executive Steve Streit said that the company's lower fee structure did not generate enough additional purchase volume to overcome the loss of revenue.

Great Lakes Credit Union in Bannockburn, Ill., and Phone-Co Credit Union have merged.

Achieva Credit Union is believed to be the first institution of its kind to complete a whole-bank acquisition. The deal could provide a template for other credit unions keen on buying banks.

In a report assessing the impact of a 2009 reform law, the agency cited concerns on debt collection, deceptive rewards programs and so-called deferred interest products.