PYMNTS

AUGUST 27, 2019

has called for a relaxation of CU laws, enabling the institutions to make loans as small as £50 ($61). In the August Credit Union Tracker , PYMNTS explores the latest developments in the world of CUs, including new government initiatives in the U.S. Developments From Around the CU Space. percent in the U.K.

Credit Union 49

Credit Union NCUA Non-Bank Money Laundering 49

PYMNTS

JUNE 21, 2019

In fact, CU interest rates are capped by federal regulations. The Federal Credit Union Act, signed into law by President Franklin D. Roosevelt in 1934, gave the National Credit Union Administration (NCUA) the authority to set maximum credit union interest rates. percent compared to banks’ 13.5

Credit Cards 40

Credit Cards Credit Union Caps NCUA 40

FICO

DECEMBER 15, 2020

The legislation includes nearly 200 pages of the most significant reforms to the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws since the USA PATRIOT Act of 2001. Even by Washington standards, this bill is massive topping 4,500 pages. companies and companies doing business in the U.S. to report their beneficial owners to FinCEN.

BSA 52

BSA Suspicious Activity Report (SAR) Financial Inclusion AML 52