Shared branching had an impressive year in Alabama in 2017. Credit union members are using the services while more credit unions are seeing the value in shared branching. The Credit Union Service Centers (CUSC) of Alabama will pay a patronage rebate...

The FTC has announced that it has reached a settlement with PayPal, Inc. over allegations that the company told users of its Venmo peer-to-peer payment service that money credited to their Venmo balances could be transferred to external bank...

The Federal Reserve raised interest rates three times in the last year or so. With a strong economy and continued low unemployment, expect rates to continue their upward trajectory. In response, banks and credit unions will need to change how they...

The Consumer Financial Protection Bureau recently issued a Request for Information (RFI) about the Bureau’s rulemaking processes. The bureau is seeking comments and information from interested parties to help assess the overall efficiency and...

Payday lending reform legislation was passed by the full Alabama Senate Thursday by a vote of 20 to 4. This legislation, by Sen. Arthur Orr (R-Decatur), represents meaningful payday lending reform by requiring payday lenders to offer a 30-day term...

Synthetic identity fraud is costly to the credit union industry, which is susceptible to the trend to manufacture identities. These fraudulent accounts are set up by blending a person’s actual information, such as a real social security number, with...