Around the States
State Benefit Guides Completed To Date
As one of the Dual Charter Resources Initiative (DCRI) projects, NASCUS, in coordination with the state regulators and leagues, began creating a reference guide outlining the intricacies and benefits of each state’s regulatory environment and charter compared to the federal charter. These reference guides provide a broad 360-degree view of the relevant state charter, state regulator, and links to important statutory and regulatory citations necessary to understand the regulatory landscape…
May 3, 2024 Stories | Click here to read all recent news stories
Calling Its Practices ‘Unconscionable,’ Members of Congress Launch Investigation of One CU’s Overdraft Practices
Calling Frontwave Credit Union’s overdraft practices “unconscionable,” a half-dozen members of Congress are calling for an investigation in a letter sent to the credit union. As CUToday.info has been reporting, numerous credit unions in California, but especially Frontwave CU, have been in the crosshairs of media reports, consumer groups and the state’s banking industry ever since release of a report in October of 2023 from the California Department of Financial Protection and Innovation (DPFI) on the overdraft and nonsufficient funds fees collected by California’s state-chartered financial institutions.
America’s Credit Unions: Overdraft Data is Exempt from Freedom of Information Act
Credit union overdraft and Nonsufficient Fee income should not be publicly disclosed because it is confidential business information and is exempt from the Freedom of Information Act, America’s Credit Unions told the National Credit Union Administration on Friday.
Summit Credit Union Awards $58,000 in Scholarships
Summit Credit Union is pleased to announce awarding $58,000 in scholarship grants for fall 2024 and spring 2025 semesters. Sixty-one students were selected based on their academic achievements, their involvement in school, and community-related activities.
How a Tennessee Credit Union Uses Generative AI to Foster Fair Lending
Jenny Vipperman, president and chief executive of ORNL Federal Credit Union in Oak Ridge, Tennessee, is partnering with the Burbank, California-based lending software firm Zest AI to pilot an artificial intelligence-powered tool for ensuring that fair lending is done right.
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