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The CFPB is ordering Navy Federal to refund more than $80 million to consumers, stop charging illegal overdraft fees, and pay a $15 million civil penalty.
A CFPB and NCUA investigation determines VyStar ignored red flags and continued with the rollout that caused members to lose access to their accounts and funds for weeks.
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Trade associations are hopeful the NCUA will reduce its 2013 operating budget during its monthly board meeting July 25. While the board’s open meeting agenda has not yet been released, historically the federal regulator makes mid-year adjustments to the operating budget and announces the annual corporate assessment rate in July.
