Page 27 - Cuj Content News Today

Despite an initial green light in 2019, regulators with the Virginia State Corporation Commission ultimately decided the credit union's plan to add members lacked merit.

Chuck Albrecht announced his plans to step down in March of 2023, concluding a more than 20-year tenure as president and chief executive.

Mark Burgess succeeded James Wileman as president and chief executive of the Anchorage-based credit union this month.

The Consumer Financial Protection Bureau's review of credit card late fees has ignited pushback from industry that supports an expected 9% jump in fees next year pegged to inflation. 

Elba Arenas takes over from Jim Barbarich, who is planning to retire at the end of next year.

The National Credit Union Administration's certification for WeDevelopment Federal Credit Union in Missouri took effect in July.

The Credit Card Competition Act of 2022 could threaten revenue credit unions need to manage card payments and provide security, according to trade groups.

Membership at the Virginia credit union has grown rapidly in recent years, including an 11% spurt in the first half of this year, thanks to a charter switch, heavy marketing spending and generous deposit rates.

The combined institution would have more than $4 billion of assets and 36 branches across Oregon and Washington.

Apple was accused by Affinity Credit Union of using its market power in the mobile device industry to fend off competition from other payment card issuers and charging them fees to boost its bottom line.