CFPB Fines Navy Federal Credit Union $95 Million for Illegal Overdraft Fee Practices

The Consumer Financial Protection Bureau issued a consent order against Navy Federal Credit Union for engaging in unfair acts and practices in violation of the Consumer Financial Protection Act for charging illegal... Read more »

CFPB Penalizes Credit Union for Online Banking Rollout Failures

The Consumer Financial Protection Bureau issued a consent order against VyStar Credit Union for engaging in unfair acts and practices in violation of the Consumer Financial Protection Act in its failed transition... Read more »

ISDA® Publishes Credit Derivatives Determinations Committee (DC) Review Results

ISDA® published the results of a consultation on proposed changes to the structure and governance of its Credit Derivatives Determinations Committees (DCs), which make important decisions for the credit derivatives markets. Source... Read more »
CFPB Considering Fair Credit Reporting Acting Amendments

CFPB Considering Fair Credit Reporting Acting Amendments

On April 2, at an event at the White House on Data Protection and National Security, CFPB Director Rohit Chopra’s articulated potential changes to the data security regulation landscape and noted that the Bureau... Read more »
First-Of-Its-Kind Credit Card/Software Combo from LawPay and MyCase Lets Law Firms Track Expenses Directly to Matters and Invoicing

First-Of-Its-Kind Credit Card/Software Combo from LawPay and MyCase Lets Law Firms Track Expenses Directly to Matters and Invoicing

A common pain point for law firms is failing to track and invoice all reimbursable client expenses, resulting in losses to firm profits. A first-of-its-kind product being unveiled today by AffiniPay, the... Read more »
Should I Stay or Should I Go? The IRS Makes the Decision Hard for Employers Who Filed For or Accepted Refunds Under the Employee Retention Tax Credit

Should I Stay or Should I Go? The IRS Makes the Decision Hard for Employers Who Filed For or Accepted Refunds Under the Employee Retention Tax Credit

The Internal Revenue Service (IRS) recently announced two relief programs for employers that may have claimed credits under the employee retention credit (ERC) based on erroneous or specious eligibility standards. Owing in... Read more »
New York State Tax Appeals Tribunal Tax Credit Decision Annulled

New York State Tax Appeals Tribunal Tax Credit Decision Annulled

In a pair of decisions, a New York State appellate court has annulled decisions of the New York State Tax Appeals Tribunal that reduced certain tax credits available to the individual shareholders... Read more »
Proposals Would Relax Hiring Restrictions for Banks, Credit Unions

Proposals Would Relax Hiring Restrictions for Banks, Credit Unions

​The Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) recently released proposed rules to give banks and credit unions more flexibility to hire people who have committed relatively... Read more »
A Union for Bankers? These Workers Plan to Vote on One at Wells Fargo

A Union for Bankers? These Workers Plan to Vote on One at Wells Fargo

Workers at two branches are expected to hold elections to decide whether to unionize Source link Reach Out Don’t hesitate to reach out to us to discuss your specific needs. Our team... Read more »
Chicago City Council Passes Measure to Eliminate the Tip Credit

Chicago City Council Passes Measure to Eliminate the Tip Credit

The Chicago City Council voted on October 6, 2023, to eliminate the subminimum wage for tipped employees working within Chicago by July 1, 2028. The “One Fair Wage” ordinance will gradually phase... Read more »
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