Navy Fed Fined $95M for Illegal Overdraft Fees
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.
Credit unions in Florida, Iowa, Massachusetts, Oregon and Utah recently announced new president/CEO appointments.
Monte Berg, show at left, will become the new president/ CEO of the $2.6 billion Veridian Credit Union as of May 26.
Berg, who joined the Waterloo, Iowa, based cooperative in 1990, currently serves as senior vice president of finance.
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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.
The list includes six credit unions merging due to poor financial condition and two for poor management.
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