Major news outlets are reporting that Republicans have won control of the House of Representatives, meaning credit unions will be working with and lobbying a Democrat-controlled Senate and a Republican-led House.

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Credit reports – a wealth of information about a person’s financial habits that can serve as the determining factor in credit decisions or even employment decisions or background checks. Given the outsized impact a credit report can have on a person’s life, it’s important that the information contained in the credit report be accurate, and that credit unions handle disputed information appropriately. Last week the Consumer Financial Protection Bureau provided guidance on this topic by publishing a new consumer financial protection circular on the topic of consumer reporting disputes.

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A small business lobbying group has filed suit to block the Treasury Department’s upcoming requirement that tens of millions of small businesses register with the government as part of an effort to prevent the criminal abuse of anonymous shell companies.

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National Credit Union Administration Chairman Todd M. Harper, along with other financial regulatory agency principals, testified today at a hearing before the U.S. House Committee on Financial Services.

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Credit reports – a wealth of information about a person’s financial habits that can serve as the determining factor in credit decisions or even employment decisions or background checks. Given the outsized impact a credit report can have on a person’s life, it’s important that the information contained in the credit report be accurate, and that credit unions handle disputed information appropriately. Last week the Consumer Financial Protection Bureau (CFPB or bureau) provided guidance on this topic by publishing a new consumer financial protection circular on the topic of consumer reporting disputes.

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Chartway is proud to congratulate two board members – E. L. “Lou” Gull, Jr. and Steve Warnecke. Long-time volunteer, Gull, retired from the board following 41 years of service and moved to emeritus status on Nov. 11, 2022. Warnecke, who previously served as an associate director, began serving as a board member on Nov. 14, 2022.

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Enabling a Trusted Contact(s) designated by the member that could be notified when the credit union has concerns about account activity, transaction requests, or other concerns related to the account is one risk mitigation tool you can use to help prevent financial exploitation. The Consumer Protection Financial Protection Bureau (CFPB) has made voluntary recommendations that financial institutions consider utilizing a Trusted Contact program to counter the frequent elderly exploitation schemes.

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CommonWealth One Federal Credit Union, Chartway Credit Union and Virginia Credit Union captured national awards in the 2022 CUNA/Leagues Social Responsibility Awards.

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As the number of investigations into Paycheck Protection Program loan fraud grows, experts are split on whether the first-ever penalty against a participating bank is likely to be the start of a trend.

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Key issues in the Custodia case concerning the nature of regional reserve banks, the structure of the Federal Reserve System and the process for obtaining access to the Fed's payment systems are all fit for trial, U.S. District Court of Wyoming Judge Scott Skavdahl ruled Friday.

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