National banks dominate the U.S. consumer credit card industry, with a strong position that is unlikely to be challenged anytime soon. However, smaller financial institutions (FIs) are slowly gaining ground. The study “Credit Unions and Community Banks Gain Credit Card Issuing Momentum,” a PYMNTS Intelligence and Elan Credit Card collaboration, revealed that 15% of overall consumers would most likely turn to credit unions (CUs) for their next credit card application.
The Biden-Harris Administration announced today the approval of an additional $4.8 billion in student loan debt relief for 80,300 borrowers. These discharges stem from fixes made by the U.S. Department of Education to income-driven repayment (IDR) forgiveness and Public Service Loan Forgiveness (PSLF).
n a North Carolina district court decision, Mercedes-Benz Financial Services (MBFS) won a default judgment against the plaintiff, Antoine Scott, after he failed to make regular payments on his vehicle and filed an identity theft claim and fake incident report when MBFS repossessed his car.
NEW YORK – New York Attorney General Letitia James today led a coalition of 20 attorneys general in submitting letters to the federal Office of the Comptroller of the Currency (OCC) and Consumer Financial Protection Bureau (CFPB) urging both agencies to ensure that national banks cooperate with investigations being conducted by state attorneys general into violations of state laws.
Metro Credit Union, the largest state-chartered credit union in Massachusetts, today announced that it has expanded its Senior Leadership Team to include VP Retail Administration Robert Eydenberg and SVP Senior Commercial Lender Kevin Malone. Eydenberg and Malone will report directly to President and CEO Robert Cashman. In addition, Metro has promoted Melissa Breen, VP Risk & Compliance, Emily Featherstone, AVP Internal Communications, and Jacquelyn Keeley, VP Controller to officer roles.
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