Compliance

De novo charters hit a slowdown with 57% of newly chartered credit unions since 1990 currently described as inactive.

Financial institutions across the country are in the final stages of readying for the same-day processing of electronic payments, which are scheduled to begin on Sept. 23.

Diebold Nixdorf’s shiny new corporate moniker is already threatened by a possible deep investigation by U.K. authorities into the company’s possible anti-competitive violations.

One week after the Federal Reserve Board launched a Facebook page, social media experts are faulting its approach as high-handed and tone-deaf, raising questions about what the central bank was trying to accomplish and about its commitment to social media.

Monday marks the end of the comment period for the heavily debated arbitration agreement proposal from the Consumer Financial Protection Bureau, and both CU trade associations are urging the agency to utilize its ability to exempt credit unions.

Credit Unions are generally less likely to use or enforce arbitration clauses, but many institutions still include them as part of membership agreements.

The Consumer Financial Protection Bureau has appointed eight new credit union representatives to its Credit Union Advisory Council.

The Consumer Financial Protection Bureau on Thursday urged student loan servicers to provide more help to consumers who apply for income-driven repayment plans.

Industry representatives pushed back against a report that continues to paint a negative picture of arbitration clauses just as the Consumer Financial Protection Bureau plans to restrict such agreements.

For the first time, EMVCo, the card network-operated EMV standards body, has established an approval process to formally certify that contactless mobile payment devices can operate at EMV approved terminals.

Illinois Governor Bruce Rauner has signed two pieces of credit union-friendly legislation this summer amending the Illinois Credit Union Act and the state's Labor and Storage Lien Acts, effective immediately.

Call Report data shows a loss of more than $300,000 during the first two quarters of this year, following losses in 2014 and 2015.

The national credit union trade associations have joined with unlikely partners as co-signers on a letter that calls out the U.S. Department of Housing and Urban Development (HUD) over lending issues.

Congress and CU trade groups have questioned the CFPB on its interpretation of the Dodd-Frank Act's exemption authority, claiming the regulations have increased unnecessary burdens on credit unions and restricted services for consumers. The CFPB has fired back, stating the issue was addressed when Dodd-Frank was passed six years ago.

California state lawmakers have dropped plans for legislation this year to create a new license for bitcoin companies.

Industry trade groups react to call report modernization proposal and the CFPB posts a public comment request regarding TRID changes.

Investors Bancorp in Short Hills, N.J., has joined the ranks of banks flagged by regulators for Bank Secrecy Act issues.

Another data firm plans to seek regulatory certification as a credit bureau for payday lenders.

A federal judge in California approved a $2.4 million settlement in a class- action lawsuit against Social Finance, a San Francisco-based online lender.

The meeting was requested by representatives from the Credit Union Association of the Dakotas, but also included community bankers.