Credit and Collection News

June 8, 2026

Cardinal Credit Union announces merger with NoteWorthy Federal Credit Union

has announced plans to merge with NoteWorthy Federal Credit Union, a strategic move aimed at expanding member services, enhancing digital capabilities, and strengthening the combined institution’s competitive position in an evolving financial services landscape. The merger, which remains subject to ...

June 7, 2026

Senate Dems Introduce Bill To Fully Restore CFPB Funding

Senate Democrats have introduced new legislation aimed at fully restoring and insulating the Consumer Financial Protection Bureau’s (CFPB) funding structure, reigniting a long-running debate over the agency’s independence and future authority. The proposal, unveiled this week by a group of ...

June 5, 2026

Mayor’s budget would move parking collections from Transportation to Finance

After months of internal battles, public concern from staff, and even some accusations of previous impropriety, Oakland’s city government has decided to move some parking tasks currently managed by the city’s Department of Transportation, such as revenue collection, to the ...

June 8, 2026

Reset Raises $6 Million Seed Round Anchored by Credit Union Customers to Expand Embedded Earned Wage Access Platform

More than two-thirds of the round comes from the credit unions Reset serves — a structure that reflects growing confidence in the company's approach to keeping members from drifting to neobanks MENLO PARK, Calif., June 08, 2026--(BUSINESS WIRE)--Reset, an embedded ...

June 9, 2026

Evaluating The FDIC’s New Direction

The FDIC’s “new direction” marks a sharp pivot toward lighter-touch supervision, reduced emphasis on climate and “reputational risk,” and a more open stance on innovation, fintech partnerships, and digital assets, even as it refocuses on core safety-and-soundness risks and post‑2023 ...

June 7, 2026

How People Working in Debt Collection Handle Abuse From Callers

Debt collection has long been recognized as one of the most challenging roles in financial services—not only due to regulatory scrutiny and performance pressure, but also because of the frequent exposure to verbal abuse from consumers. While much of the ...

June 10, 2026

Advocates say data privacy bill will do little to protect Vermont consumers

A data privacy bill headed to the desk of Republican Gov. Phil Scott will do little to protect Vermonters from the ravages of Big Tech, according to state and national advocates. A yearslong battle between privacy hawks and the business ...

Both Visa and Mastercard agreed to relax their controversial “honour all cards” rules, which required merchants to accept all Visa or Mastercard credit cards if they accept any cards from the two networks.

June 10, 2026

Visa, Mastercard US$38 billion swipe fee settlement wins US judge’s approval

It covers more than 12 million merchants and is ‘fair, reasonable and adequate’, he says Published Wed, Jun 10, 2026 · 08:32 PM [NEW YORK] A US judge granted preliminary approval to Visa’s and Mastercard’s revised US$38 billion settlement with ...

June 8, 2026

CFPB Deletes Thousands Of Webpages Amid Agency Remake

The Consumer Financial Protection Bureau (CFPB) has removed a series of supervisory highlights and reports from its public website, a move that is drawing scrutiny from industry stakeholders, consumer advocates, and compliance professionals who rely on the agency’s supervisory insights ...

June 9, 2026

How Bank of America is using AI to improve customer experience

Bank of America has spent the past decade turning AI into the backbone of its digital customer experience, with its Erica virtual assistant now central to how tens of millions of customers interact with the bank every month. The strategy ...