Credit unions

Surprise overdraft fees and charges incurred by consumers who cash bad checks likely violate the law, state Attorney General Rob Bonta said. His message was especially notable because it was aimed at smaller institutions that have gotten less scrutiny from Washington.

The world's largest credit union said that Dietrich Kuhlmann, a retired rear admiral and currently the institution's chief operating officer, would succeed retiring CEO Mary McDuffie on March 1.

Auto-enrolling its membership for a credit-scoring tool offered by SavvyMoney helped Knoxville TVA Employees Credit Union nearly double approvals across its credit card, personal and auto loan portfolios in early 2023.

The $4.4 billion-asset institution's 30-second commercial on Sunday sought to promote the idea of financial wellness as integral to "not-for-profit" banking and boost new member growth.

Shared services organizations PSCU and Co-op Solutions are offering post-purchase buy now/pay later loans, with the goal of reaching consumers who are concerned about managing their credit.

In the largest deal based on the bank's assets announced since January 1, 2023, the credit union has nearly $12 billion in total assets and the target bank more than $1.5 billion in total assets.

The nation's largest credit union allegedly engaged in racial discrimination resulting in calls for further investigations and regulations. Had Navy Federal been subject to the Community Reinvestment Act it may have avoided this problem.

In a bid for scale and diversification, Illinois-based Empeople Credit Union said it would expand in Wisconsin with the planned acquisition of TSB Bank.

The $18.5 billion-asset institution saw member growth increase by 22% year-over-year and fund levels surge in the first six months of last year after deploying a new deposit origination platform.

National Credit Union Administration Chair Todd Harper Tuesday revealed plans to mandate separate reporting of overdraft and nonsufficient funds fees for credit unions with over $1 billion in assets, which he said would enhance equity and transparency in fee structures.