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CFPB penalizes Navy Federal Credit Union for overdraft fees
The Consumer Financial Protection Bureau ordered Navy Federal Credit Union to refund more than $80 million in overdraft fees to consumers, change its overdraft practices, and pay a $15 million...
ICBA urging community bankers to comment on FDIC brokered deposit rule
ICBA published a grassroots guide to help community bankers submit unique comment letters on the FDIC’s notice of proposed rulemaking on brokered deposit restrictions.
Fed cuts rates by 25 basis points
The Federal Open Market Committee voted unanimously to cut target interest rates by 25 basis points due an easing labor market and inflation moving toward its 2% goal. The cut lowers the federal...
FinCEN warns banks about deepfake fraud schemes
The Financial Crimes Enforcement Network issued an alert to help financial institutions identify fraud schemes associated with the use of deepfake media created with generative artificial...