A bipartisan bill filed in the state House and Senate that seeks to protect North Carolinians from financial ruin due to medical debt will be discussed Wednesday by senators.
America’s biggest banks are downplaying a massive spike in write-offs of bad consumer loans.As Bloomberg News reported Tuesday (April 18), the four largest banks in the country wrote off $3.4 billion in bad loans during the first quarter of this year, a 73% jump from last year.
Proponents of a bill purporting to modernize credit unions are pushing back against criticism by North Carolina bankers, with one leader calling out commercial banks for “abandon(ing)” rural parts of the state.
On March 21, the Connecticut Department of Banking fined a collection agency $10,000 and ordered it to cease and desist from collection agency activity for operating without a valid license. According to the order, the company applied for a consumer collection agency license in Connecticut in October 2022.
Verity Credit Union, an $859 million asset financial institution in Seattle that focuses on socially-responsible, community-rooted banking, announced today it was awarded a more than $2.4 million grant through the Equitable Recovery Program (ERP), established to support low- or moderate-income communities disproportionately impacted by the COVID-19 pandemic.
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