League News

Homeowners were forced to pay for "services" that were prohibited or unauthorized. The Consumer Financial Protection Bureau (CFPB) published an edition of Supervisory Highlights describing the agency’s actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. In response to the CFPB's findings, financial institutions refunded junk fees to borrowers and stopped their illegal practices.

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Emmy award-winning show on PBS launches 2nd edition of best-selling book. Credit unions nationwide are providing up to $50,000 in $100 grants at Title 1 schools to put the lessons in the 2nd edition of How to Turn $100 into $1,000,000 into practice. In addition, PSCU/Co-op Solutions stepped up to provide the grant for the books given to students at the schools in these underprivileged areas.

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CU Healthcare PayCard proudly announces groundbreaking partnerships with leading Credit Union Service Organizations (CUSOs) CU*Answers and Bonifii, heralding a new era in healthcare payments. This collaboration will facilitate a seamless, consumer-friendly financial solution for managing healthcare expenses for credit union members.

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Moving at the speed of innovation, CU Healthcare PayCard Principal Paul Clampitt announced today that John Ainsworth, president/CEO of Bonifii – a CUSO focused on delivering innovative applications on a global distributed ledger platform for credit unions – has joined CU Healthcare PayCard’s board. CU Healthcare PayCard is a CUSO focused on bringing together payment and healthcare ecosystems.

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Today is NCUA Board Meeting Thursday, after an unexpected month off in March. They are back with a proposed rulemaking. Let's take a look at that and some of the other top stories of the week in regulatory compliance.

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As IGNITE | the League Annual Meeting approaches, ValleyStar Credit Union is gearing up to make a significant impact. Led by CEO Mike Warrell and Board Chair James Rorrer, ValleyStar is a leader in innovation and community engagement within the credit union community. Their proactive approach to conference participation has catalyzed growth and fostered a culture of inclusivity and learning.

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As the June 18 primary nears, the political landscape in Virginia is becoming increasingly active, holding substantial implications for the credit union community. Here’s an overview of pivotal races and their potential impact on credit unions.

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Gaming platforms have evolved far beyond their origins as mere venues for entertainment; they now function similarly to complex payment systems. Recent findings from the Consumer Protection and Payments Branch (CPPB) highlight a concerning increase in scams and theft within these platforms, emphasizing the need for vigilance and awareness. For credit unions, understanding the complexities and potential risks of these platforms is vital to protect both members and the institution itself.

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The NCUA Released the Agenda for their April 2024 Board Meeting this week, and it includes only one item: an Advance Notice of Proposed Rulemaking (ANPR) on Part 749, Records Preservation Program.

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Happy Thursday everyone! This week kicked off with the eclipse, and I hope you were able to step outside and take a look through some glasses. I was fortunate enough to be in Cleveland, which was in the path of totality. It was truly an amazing experience, and I would highly recommend experiencing the totality if you have the chance in the future!

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