credit unions

Credit union, a type of financial institution similar to a commercial bank, is a member-owned financial cooperative, controlled by its members and operated on a not-for-profit basis.

Source: en.wikipedia.org

CFPB: Navy Federal CU Fined $95 Million for Alleged Illegal Overdraft Fees
CFPB: Navy Federal CU Fined $95 Million for Alleged Illegal Overdraft Fees
November 07, 2024  |  Bank Regulation

The government has ordered America’s largest credit union to repay its customers $80 million. Navy Federal Credit Union was issued that order Thursday (Nov. 7)...

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Lend, Don’t Break: How Mid-Size Banks Can Overcome Digital Lending Growing Pains
Lend, Don’t Break: How Mid-Size Banks Can Overcome Digital Lending Growing Pains
November 07, 2024  |  Digital-First Banking

Throughout their history, mid-sized banks have served as a lifeline for local businesses across America. These financial institutions (FIs) — including community banks, regional banks,...

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VyStar’s ‘Dysfunctional’ System Switch Reveals Risks, Lessons in FinTech Partnerships
VyStar’s ‘Dysfunctional’ System Switch Reveals Risks, Lessons in FinTech Partnerships
November 05, 2024  |  Banking

Successful collaborations between traditional financial institutions (FIs) and FinTechs rest on one shared goal: offering end-users the best of both worlds. FinTechs bring speed and...

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Giving Credit Unions Credit: Bright Future for ‘Little Guys’ of Banking
Giving Credit Unions Credit: Bright Future for ‘Little Guys’ of Banking
November 05, 2024  |  Credit Unions

Bigger doesn’t always mean better across financial services — especially when it comes to innovation. And as financial technology reshapes the payments industry, even smaller,...

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Rule 1033 Explained: How the CFPB’s Data Sharing Standards Could Reshape Banking
Rule 1033 Explained: How the CFPB’s Data Sharing Standards Could Reshape Banking
November 05, 2024  |  Regulation

The Consumer Financial Protection Bureau’s finalized rule on data sharing has its share of supporters and detractors. Those in favor of the new mandates —...

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CFPB: VyStar Hurt Customers With ‘Botched’ Online Banking Rollout
CFPB: VyStar Hurt Customers With ‘Botched’ Online Banking Rollout
October 31, 2024  |  Regulation

Federal regulators have taken action against VyStar Credit Union following a “botched” online banking launch. As the Consumer Financial Protection Bureau (CFPB) said in its...

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Pinwheel and Candescent Launch Direct Deposit Switching Partnership
Pinwheel and Candescent Launch Direct Deposit Switching Partnership
October 30, 2024  |  Partnerships

FinTech Pinwheel teamed with account opening solutions firm Candescent, formerly Terafina. The partnership brings Pinwheel’s direct deposit switching solution to Candescent’s bank and credit union...

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Velera and RAI Collaborate on Credit Acceptance Programs
Velera and RAI Collaborate on Credit Acceptance Programs
October 30, 2024  |  Credit Unions

Velera and RAI Partners have teamed up to offer credit unions access to solutions that include turn-down programs and portfolio acquisitions. The two credit union...

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Crater Launches AR/AP Solutions for Financial Institutions and B2B Platforms
Crater Launches AR/AP Solutions for Financial Institutions and B2B Platforms
October 29, 2024  |  B2B Payments

Crater launched artificial intelligence-powered accounts receivable (AR) and accounts payable (AP) solutions for banks, credit unions and B2B platforms. With these solutions, customers can offer...

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