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On Wednesday, Sen. David Vitter (R-La.) told his NAFCU Congressional Caucus audience credit unions and community banks should set aside their differences and work together to advance regulatory relief.
Specifically, he suggested credit unions abandon their attempts to raise the member business lending cap. Likewise, he said he tells community bankers to ease up on their efforts to eliminate the credit union tax exemption.
I’m glad I was clear across the country in Las Vegas, attending the ACUMA Conference. Had I been in Washington as originally planned, I would have mortified the NAFCU delegation and probably been escorted out, because I would have stood up, booed loudly and possibly thrown something.
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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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