Industry Lawsuit and New Leadership Prompt Rule’s Demise The drama over credit card late fees took a new turn in 2025. A federal judge threw out the CFPB’s $8 late
Credit Union News
22 Bank Acquisitions in 2024 Expand Footprints but Hurdles Grow In 2024, credit unions didn’t just merge with each other – they went on an unprecedented buying spree of community
Policy Shift Removes Interpretations on Medical, Time-Barred Debt and More In spring 2025, the CFPB took the unusual step of withdrawing 67 guidance documents , part of a house-cleaning under
Industry Shake-Up as Many Small CU’s Merge for Survival or Scale The credit union landscape is rapidly changing, and 2024 was a banner year for mergers. The NCUA approved 162
January 2025 Freeze Order Stalls Pending Rules – “Junk Fee” Drive Stalls The inauguration of President Trump in January 2025 brought an immediate shift in regulatory momentum. On Day 1, the
New Rule (Now on Hold) Would Remove $49 B in Medical Debts from Reports In January 2025, the CFPB finalized a sweeping rule to block medical debt from consumer credit reports
Record $3.2 B in Synthetic Fraud Losses Hits Lenders, Autos Hardest A troubling trend for creditors became starkly clear in late 2024 and into 2025: synthetic identity fraud – where fraudsters
Fintech Partnerships Help CUs Meet Members on Their Phones In 2024, credit unions doubled down on digital communication to reach delinquent members, adopting modern collections platforms at a record pace.
NCUA and CFPB Warn Against Fee Practices Hurting Members In 2024, regulators turned up the heat on overdraft and non-sufficient fund (NSF) fees, seeing them as harmful “junk fees” that
Enforcement Action Signals Hard Line on Unfair Collection Tactics In late 2024, the CFPB took aim at a third-party collections agency engaged in egregious practices, underscoring that unethical collectors will