VyStar Credit Union’s branch in Winter Park near Orlando. Credit/VyStar
The CFPB has officially terminated its consent order against the $14 billion VyStar Credit Union after determining the Florida-based institution fulfilled key obligations stemming from a 2024 enforcement action.
On Oct. 31, 2024, the CFPB issued the original order against VyStar for violations of the Consumer Financial Protection Act of 2010. The Bureau found that VyStar’s “planning and implementation” of a May 2022 digital banking system conversion had failed to meet legal requirements, resulting in significant disruptions for members. At the time, VyStar was required to pay a $1.5 million civil penalty, establish a governance committee for overseeing consumer-facing banking projects, and ensure that all consumers owed redress were compensated.
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According to the CFPB, VyStar took several corrective actions, including paying the full penalty and conducting an audit to confirm that fees and costs outlined in the order were refunded to members who submitted requests.
The Bureau’s July 21, 2025 order states that “VyStar has fulfilled certain obligations under the Consent Order” and, under its authority in 12 U.S.C. § 5563(b)(3), the CFPB terminated the consent order and waived “any alleged non-compliance therewith.”
VyStar, based in Jacksonville, serves approximately 1 million members across 49 counties in Florida, 29 counties in Georgia, and among military communities. The resolution of the matter closes a chapter of regulatory scrutiny for one of the largest credit unions in the southeastern U.S.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
