CUNA supports the CFPB innovation mission and the use of “Tech Sprints,” but credit unions must have a seat at the table, CUNA wrote Friday. Tech Sprints gather experts to work together to develop innovative solutions to clearly-identified challenges.
CUNA strongly supports the Federal Reserve board’s decision to develop interbank settlement of faster payments, as the Fed proposed potential actions to create an interbank 24x7x365 real-time gross settlement service called FedNow.
A U.S. District Court jury has awarded USAA $200 million in a patent infringement lawsuit against Wells Fargo yesterday involving remote deposit capture, after USAA alleged the bank infringed on certain USAA RDC patents.
The National Credit Union Share Insurance Fund reported total income of $57.3 million and a net income of $24 million in the first quarter at Thursday’s National Credit Union Administration board meeting.
The National Credit Union Administration board became the first federal financial regulator to issue a revised proposed rule on incentive-based compensation at its Thursday meeting. The board voted unanimously to issue the joint rule, with comments due July 22.
The Federal Trade Commission will host a forum June 9 to explore the world of marketplace lending and its impact on consumers. CUNA filed a comment letter last year with the Treasury regarding such lenders.
UBS will pay the National Credit Union Administration $69.8 million in damages and interest for claims arising from losses to two corporate credit unions that failed during the financial crisis, the agency announced Friday.
Credit Suisse will pay the National Credit Union Administration $50.3 million in damages and interest for claims arising from losses to Members United and Southwest corporate credit unions, the agency announced Thursday.