NAFCU, CUNA, and the Virginia Credit Union League (VACUL) filed a joint amicus brief Tuesday in the 4th Circuit Court Appeals case, Studco Buildings Systems v. 1st Advantage Federal Credit Union. At the center of the case is a rapidly growing and increasingly costly type of fraud – a business email compromise used to fraudulently misdirect payments via ACH.
CFPB Director Rohit Chopra joined NAFCU President and CEO Dan Berger and member credit unions Tuesday for a virtual town hall discussion on a broad range of issues impacting the credit union industry.
The CFPB Tuesday issued an order against Chime for deceiving consumers about the speed and cost of remittance transfers through its mobile app, Sendwave. The bureau ordered Chime to refund affected consumers nearly $1.5 million in fees and pay a $1.5 million penalty into the CFPB’s victims relief fund.
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Total retail sales increased 0.7 percent in September, following similar gains from summer. NAFCU Economist Noah Yosif analyzed the report in a new NAFCU Macro Data Flash report.
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