Nerd Wallet

APRIL 5, 2021

A credit union can be a good choice for a business account if there are locations near you and you can qualify to join. These nonprofit, membership-based financial institutions often get high marks for customer satisfaction compared with banks. Ryan Lane writes for NerdWallet. Ryan Lane writes for NerdWallet.

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Nerd Wallet

SEPTEMBER 28, 2020

The best bank or credit union for you depends on what you’re in the market for: a savings account, a checking account, or both. NerdWallet spent more than 200 hours comparing and rating dozens of financial institutions to identify those with the best deposit accounts. NerdWallet is a writer at NerdWallet.

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Nerd Wallet

DECEMBER 9, 2020

Serving people who serve their country is what military banks and credit unions do best. Our favorite military-focused financial institutions offer a combination of account options, competitive rates and low fees — as well as flexibility for families who face frequent moves or deployments. + Twitter: @SpencerNerd.

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Troutman Sanders

AUGUST 11, 2022

Please join Consumer Financial Services Partner Chris Willis and his guests and colleagues James Stevens and Carlin McCrory as they discuss the consumer protection and safety and soundness sides of credit union regulation. Transcript: Consumer Protection and Safety and Soundness Perspective of Credit Union Regulation (PDF).

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Troutman Sanders

DECEMBER 17, 2021

The National Credit Union Administration (NCUA) — the federal regulator that oversees credit unions — announced that credit unions may partner with third-party digital asset service providers to give members access to cryptocurrencies and other digital assets.

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Collection Industry News

FEBRUARY 14, 2022

LUBBOCK, Texas (KCBD) – The grand opening for Capital Federal Credit Union is scheduled to happen at 3 p.m. So the Lewises and a few others started a credit union. Harper, chairman of the National Credit Union Administration, which chartered the new credit union. Source- site.

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Nerd Wallet

SEPTEMBER 18, 2020

NerdWallet’s experts have reviewed and rated dozens of banks and credit unions to help you find those with the best accounts, branch and ATM availability, customer service and more. The article Bank and Credit Union Reviews from NerdWallet’s Experts originally appeared on NerdWallet. NerdWallet is a writer at NerdWallet.

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Troutman Sanders

AUGUST 15, 2023

This filing comes just three days after CUNA and the National Association of Federally-Insured Credit Unions (NAFCU) sent a joint letter to the CFPB urging it to stay enforcement and implementation of the Final Rule for all covered financial institutions until after the U.S.

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Troutman Sanders

AUGUST 9, 2023

Supreme Court’s final decision in Community Financial Services Association (CFSA) v CFPB. Given the effect of the [injunction order] on the overall distribution of compliance burdens across the financial sector, we ask that you consider broader relief.”

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Collection Industry News

JUNE 27, 2023

Banks and credit unions rarely see eye-to-eye, so it was no surprise when Dan Berger, president and CEO of the National Association of Federally-Insured Credit Unions, called out “greedy” bank executives responsible for recent bank failures. LONG BEACH, Calif.

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Jimerson Firm

JANUARY 31, 2023

Banks and credit unions should not only routinely require, but also closely scrutinize, criminal background checks during the hiring process in order to maintain compliance with applicable regulatory schemes. The SBA regulations will apply to both banks and credit unions that process SBA loans. emphasis added).

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Fico Collections

OCTOBER 26, 2021

5 Ways Credit Unions Can Be More Resilient with AI and Analytics. Credit unions are sitting on a lot of risk right now. This COVID pandemic aftershock is about to hit the financial services industry, which means that credit unions need to pay close attention to their capital, asset quality, earnings, and liquidity.

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Troutman Sanders

APRIL 6, 2021

Five federal banking regulatory agencies are gathering information and comments on financial institutions’ use of artificial intelligence (AI), including machine learning. The RFI notes that financial institutions have been and are exploring AI-based applications for a variety of purposes.

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Fico Collections

NOVEMBER 20, 2020

According to research from Equifax, the 2008 recession had an unexpected and interesting effect on credit unions. While market volume was down across the board in auto loan and bank card originations: Credit unions increased their market share by about 15% in auto loan origination. Pain points in prescreen marketing.

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Fico Collections

AUGUST 19, 2022

Tackling the Fintech Threat: A Guide for Banks and Credit Unions. What financial institutions need to compete with fintech threat disrupters. billion globally in 2021 – banks and credit unions are losing their status as the primary financial services providers to American consumers. by Darryl Knopp.

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Consumer Finance

JULY 10, 2024

The Federal Financial Institutions Examination Council (FFIEC) today published data on 2023 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 5,113 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.

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Fico Collections

JULY 9, 2021

For credit unions and smaller banks in North America, the challenge of how to compete with their bigger counterparts is a constant and pressing matter. Today’s prescreening solutions are very manual in nature, typically involving a list processing agreement with a credit bureau. Learn more about PrescreenCentral.

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Troutman Sanders

OCTOBER 18, 2022

million student checking and credit card accounts that are governed by partnerships between institutions of higher education and financial services providers, and it highlighted market trends and possible risks. The report reviewed agreements and data covering the over 1.2

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Collection Industry News

SEPTEMBER 12, 2022

University Credit Union, September 08, 2022. 8, 2022 /PRNewswire/ — University Credit Union (UCU) is excited to announce its newest partnership with UC San Diego. About University Credit Union: University Credit Union, a federally-insured financial cooperative, was founded in 1951 on UCLA’s campus by faculty and staff.

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Credit Corp

DECEMBER 4, 2023

Read on to learn how Credit.com can help you boost your financial knowledge and better understand how CD rates work. Key Takeaways Certificates of deposit (CDs) are savings accounts that brokerage firms, commercial banks, credit unions, and other financial institutions offer for set amounts of time.

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Consumer Finance

JUNE 28, 2023

The Federal Financial Institutions Examination Council (FFIEC) announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,460 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies.

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Nexa Collect

NOVEMBER 26, 2022

As per FTC, starting June 9, 2023 all collection agencies will be treated as financial institutions. When consumers turn to a financial institution for services, they want to know that their private information is being kept safe and sound. Providing financial advising. Credit union. Collecting debt.

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Troutman Sanders

OCTOBER 13, 2023

On October 11, the Consumer Financial Protection Bureau (CFPB or Bureau) issued an advisory opinion regarding § 1034(c) of the Consumer Financial Protection Act (CFPA), which requires large banks and credit unions to comply in a timely manner with consumer requests for information concerning their accounts.

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Troutman Sanders

SEPTEMBER 5, 2023

On August 18, the American Financial Services Association, Consumer Bankers Association, CRE Finance Council, Equipment Leasing and Finance Association, Mortgage Bankers Association, National Association of Federally-Insured Credit Unions, Truck Renting and Leasing Association, and the U.S.

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Consumer Finance

JUNE 16, 2022

The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2021 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,338 U.S. financial institutions.

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Troutman Sanders

JULY 21, 2022

Del-One Federal Credit Union , plaintiff Joanne Miller alleged that the defendant credit union violated Regulation E, promulgated under the Electronic Fund Transfers Act and administered by the Consumer Financial Protection Bureau (CFPB), as well as committed fraud under the Delaware Consumer Fraud Act.

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Troutman Sanders

JULY 20, 2023

There are 35 early adopter banks and credit unions, with the idea being that FedNow will eventually be adopted by the majority of banks and credit unions in the U.S. Financial institutions will provide their customers with access to the instant payments through new features on their mobile apps and banking websites.

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Nerd Wallet

MAY 23, 2022

According to the Federal Reserve’s 2021 Small Business Credit Survey, banks remain the most common source of credit for small businesses — compared with options such as online lenders, community development financial institutions or credit unions. Randa Kriss writes for NerdWallet.

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Account Recovery

SEPTEMBER 5, 2024

This partnership will undoubtedly enhance the impact SpringFour has on improving financial well-being for individuals and families across the nation.” About CORA GroupCORA Group is a collective organization redefining advancement through the acquisition, strengthening, and growth of over 30 independent software brands worldwide.

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Consumer Finance

APRIL 25, 2023

Five federal financial institution regulatory agencies in conjunction with the state bank and state credit union regulators (collectively, agencies) are jointly issuing this statement to remind supervised institutions that U.S. dollar (USD) LIBOR panels will end on June 30, 2023.

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Troutman Sanders

OCTOBER 3, 2023

Under the CFPB’s proposed timeline, SERs have only a few weeks to review the outline, which includes highly complex and sweeping changes to the FCRA that will fundamentally alter current practices and compliance regimes for businesses and financial institutions.” The trade groups requested a two-week extension to provide feedback.

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Credit Corp

MARCH 26, 2024

A cashier’s check is a check issued and guaranteed by a financial institution such as a bank or credit union. To get a cashier’s check, you’ll go to a bank or credit union, preferably one where you have an account. Actual amounts depend on the issuing bank or credit union.

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Troutman Sanders

FEBRUARY 14, 2024

Sections 521-523 are codified as § 27 of the Federal Deposit Insurance Act, § 4(g) of the Home Owners’ Loan Act and § 205 of the Federal Credit Union Act. The bills are intended to prevent out-of-state financial institutions from charging rates higher than the rates otherwise permitted by Rhode Island and Minnesota.

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Troutman Sanders

AUGUST 10, 2023

Supreme Court’s final decision in Community Financial Services Association (CFSA) v. The banking trade groups argued that relief should be provided to banks nationwide to “be prudent and ameliorate confusion.”

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Nerd Wallet

NOVEMBER 29, 0002

Since 1933 the Navy Federal Credit Union, a nonprofit organization, has been serving the armed forces, veterans, and their families. Their mission of being the “most preferred and trusted financial institution serving the military and their families” still rings true today.

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Nerd Wallet

MAY 18, 2021

Most SBA loans are issued by banks, credit unions and other financial institutions, not the government. The best lenders have substantial experience with these small-business loans, so you get effective help during the application process and hopefully increase your chances of approval.

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True Accord

JUNE 6, 2023

Where data has its own intrinsic value and where data breaches and cyberattacks are a risk for every business, the Safeguards Rule under the Gramm-Leach-Bliley Act (GLBA) provides financial institutions, including those in the accounts receivable management industry, with guidance on how to safeguard customer information.

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