PROVIDENCE, R.I. (AP) — Rhode Island is expanding its loan program for local small businesses.
Treasurer Seth Magaziner announced Thursday that the state is making an additional $10 million...
UNITY, Maine (AP) — A credit union in Maine says it's the first institution of its kind to lend exclusively to farmers.
The Maine Harvest Credit Federal Union says it accepted its first...
A night out to the movies. A new shirt. Groceries. These are all things for which many people would gladly fork over $35. But overdraft fees? Not so much. And yet, that's the average fee the...
ANCHORAGE, Alaska (AP) — An Alaska credit union plans to discontinue a pilot program to provide checking and savings accounts to marijuana-related businesses, an official said.
An underused money tool that could help a new generation of adults on their path to prosperity isn't a smartphone app, a virtual currency or a digital payment system.
PROVIDENCE, R.I. (AP) — Rhode Island Treasurer Seth Magaziner's small business loan program is expanding.
Magaziner says his "BankLOCAL" initiative now includes two new banks, BankNewport...
LINCOLN, Neb. (AP) — A national fight between for-profit banks and nonprofit credit unions is spilling into Nebraska, and state lawmakers could get caught in the middle.
RAPID CITY, S.D. (AP) — Black Hills Federal Credit Union and a Wisconsin-based insurance company have agreed to pay $3 million to settle a class-action lawsuit claiming they improperly raised insurance premiums on thousands of loans.
A judge is expected to consider the proposed settlement later this month. The agreement would resolve the eight-year-old lawsuit initially filed by a Rapid City couple.
JANESVILLE, Wis. (AP) — Blackhawk Community Credit Union's East Milwaukee Street branch lobby buzzed with customer activity on a recent Friday afternoon, so much so that several customers waited their turn by taking a pit stop for a cup of hot coffee and a cookie in the building's lounge.
BANGOR, Maine (AP) — The founders of a proposed credit union that would only lend to farmers and food entrepreneurs say it's raised $2.4 million.
The Bangor Daily News reports that Maine's congressional delegation is supporting Maine Harvest Credit Project's bid to become a chartered credit union.
MILFORD, Conn. (AP) — You might not have to wait several hours to renew your license in Connecticut. An express DMV center is opening in Milford, designed to streamline customer transactions.
Democratic Gov. Dannel P. Malloy says the center will open Thursday at the Nutmeg State Financial Credit Union as a part of a public-private partnership.
JACKSON, Miss. (AP) — A Mississippi-based credit union and associated loan fund have been named the winner of The Wall Street Journal's financial inclusion challenge.
Hope Enterprise Corp. and Hope Credit Union announced the win last week.
ROCKFORD, Ill. (AP) — High school students in northern Illinois will soon have the opportunity to work at a credit union inside their school.
Rockford Bell Credit Union will open a branch inside Guilford High School this fall, the Rockford Register Star reported .
WASHINGTON (AP) — In a story March 12 about a provision in a Senate bill that would exempt many U.S. banks from reporting requirements for mortage data, The Associated Press reported erroneously that the data that would be exempt included the loan applicant's race and sex. Under the proposal, that information would continue to be reported, but other data such as the borrower's age and credit score would not.
SANFORD, Maine (AP) — Two credit union banks in Maine say they intend to merge, citing the interests of their members.
DES MOINES, Iowa (AP) — Iowa bankers have launched an advertising campaign calling for an end to credit unions' nonprofit status, which they say gives an unfair competitive advantage.
The move comes as Iowa's credit unions increase their market share.
NEW YORK (AP) — A federal credit union in New York City has sued President Donald Trump, saying his acting director of the Consumer Financial Protection Bureau is "trying to minimize its existence."
The Lower East Side People's Federal Credit Union lawsuit was filed Tuesday in Manhattan federal court. It says the bureau created in 2010 after the 2008 financial crisis is an independent watchdog to protect consumers of the U.S. financial services industry.
WASHINGTON (AP) — A Senate panel on Tuesday approved legislation that would provide banks and credit unions with relief from some of the stricter regulatory requirements put in place after the 2008 financial crisis.
The bill, which was approved by a 16-7 vote, raises the threshold at which bank holding companies are considered too big to fail, thus subjecting them to financial stress tests and a capital-planning review. The threshold would increase from $50 billion to $250 billion.
DENVER (AP) — A Colorado credit union — once on the cusp of revolutionizing banking for marijuana businesses before being thwarted by the Federal Reserve Bank of Kansas City — has resumed its quest to open.
But going into the new year, The Fourth Corner Credit Union — a state-chartered credit union in Denver — again finds itself in a courtroom battle with the Kansas City Fed for the ability to open and serve marijuana businesses.
DENVER (AP) — With most private institutions and credit unions still avoiding the legal cannabis industry, many marijuana businesses remain without bank accounts.
But one idea is gaining acceptance among marijuana entrepreneurs and a growing number of cities and states: the formation of public banks to serve the cannabis industry.
The problem? It'll be a while before any open their doors.
MADISON, Wis. (AP) — A Wisconsin credit union is suing the credit reporting agency Equifax over a data breach that allowed hackers to access the personal information of an estimated 143 million Americans.
Madison-based Summit Credit Union says it and other credit unions are incurring large costs because of the breach.
The lawsuit was filed this month in federal court in Atlanta, where Equifax is based. It seeks class-action status on behalf of more than 5,700 credit unions.
PROVIDENCE, R.I. (AP) — Rhode Island's treasurer says the state has moved $15 million into eight banks and credit unions to encourage lending to small businesses.
The Providence Journal reports (http://bit.ly/2uLE5oy ) the deposit is part of General Treasurer Seth Magaziner's BankLocal program launched in December.
The program matches small business loans with deposits from state agencies. Loans can go up to $250,000 for businesses with 100 employees or fewer.
NEW YORK (AP) — Ride-hailing apps such as Uber and Lyft have been so disruptive to New York City's taxi industry, they are causing lenders to fail.
Three New York-based credit unions that specialized in loaning money against taxi cab medallions, the hard-to-get licenses that allow the city's traditional cab fleet to operate, have been placed into conservatorship as the value of those medallions has plummeted.
DEVILS LAKE, N.D. (AP) — The federal agency that oversees credit unions has taken over management of a troubled credit union in northeast North Dakota.
The National Credit Union Administration has placed Citizens Community Credit Union in Devils Lake into conservatorship, the Devils Lake Journal (http://bit.ly/2uhCIck ) reported.
ERIE, Pa. (AP) — A former Pennsylvania credit union executive faces a likely federal prison sentence for sealing more than $740,000 by making bogus loans and deposits and withdrawing funds from member accounts without permission.
Karen Schenck pleaded guilty in December before a federal judge in Erie to embezzling credit union funds.
Court documents filed before Friday's sentencing indicate she faces a likely sentence of between 33 and 41 months in prison.