DAILY NEWS

  • 9 February 2010, 2:18 pm Drum roll, please!
    The Wisconsin bill was unveiled today: Wisconsinites could only have one payday loan at a time – and it can be no higher than $600 under a bill unveiled at the State Capitol Tuesday morning. The measure also makes lenders disclose all their fees and interest rates. And while there would not be a government limit [...]
  • 9 February 2010, 12:18 pm Dem AGs back CFPA
    From the story: Iowa Attorney General Tom Miller urged the adoption of an independent financial consumer protection agency as part of federal financial industry reform, a point on which a measure in the U.S. Senate has been stuck. “There are two sides here. There’s the public side, protecting the public. And then there are the big banks, [...]
  • 9 February 2010, 10:17 am Elitism
    The headline of this story, “People re-discovering pawn shops” reflects media elitism. The people haven’t re-discovered pawn shops, journalist have only just discovered them.
  • 9 February 2010, 10:13 am That’s how they make money
    “Banks Still Piling on Overdraft Fees.” They’ll make more if payday lending is banned.
  • 9 February 2010, 8:35 am Prioritizing bills
    This is fascinating. More people are putting off paying their mortgages so they can pay their credit card bills first. From the story: Amid high unemployment and sliding home prices, a growing number of struggling consumers are doing what was once considered unthinkable: paying their credit card bills instead of their mortgages. A recent study developed [...]
  • 9 February 2010, 7:22 am Elizabeth Warren calls out Wall Street
    She’s a one-woman populist attack machine.
  • 9 February 2010, 7:20 am Excitement builds in Wisconsin
    Details of the Wisconsin payday lending proposal will be released today. From the story: Democratic lawmakers who have been working on a compromise since October planned a Tuesday morning news conference to release details of the plan.
  • 9 February 2010, 7:18 am Kentucky bill snagged?
    From the story: A measure that would cap interest rates on all short-term loans at 36 percent might never get a hearing in the Democratic-controlled House, despite the backing of Democratic Gov. Steve Beshear. Banking and Insurance Committee Chairman Jeff Greer said he has not decided whether he will hear House Bill 381, a measure that has [...]
  • 8 February 2010, 9:40 pm Snow closes federal offices; CUNA Washington
    An historic snowstorm that dumped 36" at one local airport over 36 hours forced the federal government to close offices Monday and again today, and local jurisdictions have urged residents not to travel due to treacherous road conditions.
  • 8 February 2010, 9:17 pm Fewer members, consumers used credit in December
    Consumers overall--credit union members included--borrowed less in December, according to Federal Reserve's consumer credit report released Friday.
  • 8 February 2010, 5:45 pm CUNA: People realizing recovery 'not typical'
    The loss of 20,000 jobs in January--more than expected-- indicates a slow recovery, and consumers are starting to realize that the economic recovery isn't a typical one, CUNA senior economist Mike Schenk told Investor's Business Daily's Investor.com Friday.
  • 8 February 2010, 5:15 pm Some CUs walking away from Visa/Heartland settlement
    More than 50 credit unions that walked away from a $60 million settlement offered by Heartland Payment Systems to Visa card issuers for the losses they incurred during a massive data breach are pursuing additional litigation.
  • 8 February 2010, 5:11 pm Wash. Post: Save to Win produces 'stunning results'
    Eight Michigan credit unions have achieved "stunning results" through their Save to Win contest, which promotes member savings, The Washington Post said Sunday.
  • 8 February 2010, 4:49 pm Minn. officials, CUs discuss foreclosure legislation
    As the Minnesota Legislature kicked off its 2010 session Thursday, State Rep. Debra Hilstrom (DFL-Brooklyn Center) and Kermit Fruechte of the Minnesota Attorney General's Office, met with credit union professionals and volunteers to discuss the details of mortgage mediation legislation.
  • 8 February 2010, 4:28 pm Public hearing tomorrow in Wisconsin
    From the story: The Social Development Commission is holding a public hearing on Tuesday on pending legislation regulating payday lending in Wisconsin. The hearing will take place from 4:30 to 8 p.m. at the Washington Park Senior Center, 4420 W. Vliet St., Milwaukee.