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May

31
2024
Industry News

Mountain America Credit Union Recognized with Two Best of State Awards

SANDY, Utah, May 30, 2024 (GLOBE NEWSWIRE) -- At its annual gala, Best of State awarded Mountain America Credit Union two awards: Best Credit Union and Best Corporate Wellness Program.

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May

31
2024
Industry News

APCU/Center Parc Credit Union Announces Definitive Agreement to Acquire Affinity Bank

ATLANTA, May 30, 2024--(BUSINESS WIRE)--Atlanta Postal Credit Union (APCU), Georgia’s oldest credit union and the largest postal credit union in the United States, along with its community-based subsidiary, Center Parc Credit Union, and Affinity Bancshares, Inc ("Affinity") (NASDAQ: AFBI) announced today that APCU has entered into a definitive agreement pursuant to which the credit union will acquire Covington, Georgia-based Affinity Bank, National Association, a wholly-owned subsidiary of Affinity.

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May

31
2024
Industry News

Supreme Court gives homeowners another chance in escrow dispute with Bank of America

WASHINGTON -- The Supreme Court on Thursday gave homeowners another chance to force Bank of America and other large banks to pay interest on mortgage escrow accounts.

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May

31
2024
Industry News

Attorney General Bonta Celebrates SCOTUS Decision Rejecting Sweeping Anti-Consumer Standard

OAKLAND — California Attorney General Rob Bonta issued a statement today after the U.S. Supreme Court overturned a Second Circuit Court of Appeals decision in Cantero v. Bank of America. The Supreme Court found that the lower court failed to apply the proper standard for evaluating whether a New York state law that requires mortgage lenders to pay a 2% minimum interest rate on funds held in mortgage escrow accounts is preempted by the National Bank Act as applied to national banks.

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May

31
2024
Industry News

Agencies Issue Joint Proposal to Curb Incentive-Based Compensation in the Financial Services Industry

The proposal seeks to make executive compensation arrangements more sensitive to risk and would require complex risk management programs to ensure compliance.

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