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April

19
2023
Industry News

Credit unions, banks gear up for battle over North Carolina bill

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.

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April

18
2023
Compliance

Collection agency to pay $10k for operating without a license

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.

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April

18
2023
Industry News

Verity Credit Union Awarded $2.4 million in CDFI Equitable Recovery Program Grant

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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April

18
2023
Industry News

Despite SVB collapse, FDIC on track to recoup insurance losses: Chair

(Reuters) - Despite the second- and third-largest bank failures in U.S. history last month, the U.S. Federal Deposit Insurance Corporation remains on track to refill its deposit insurance fund ahead of a 2028 legal deadline, the head of the agency said Tuesday.

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April

18
2023
Industry News

AG Ferguson, Rep. Slatter bill creating health data privacy protections passes Legislature

OLYMPIA Today the Legislature passed a bill Attorney General Bob Ferguson partnered on with Rep. Vandana Slatter, D-Bellevue, to close the gap on health data privacy protections, provide Washingtonians more control of their health data and protect those who come from out of state to access reproductive and gender-affirming care.

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