The government has ordered America’s largest credit union to repay its customers $80 million. Navy Federal Credit Union was issued that order Thursday (Nov. 7) by the Consumer Financial Protection Bureau (CFPB) after the regulator found that the financial institution had charged members illegal overdraft...
Offering contactless cards can come at an added cost, but it can pay off in the long run for credit unions (CUs). In the Credit Union Tracker, Navy Federal Credit Union’s Tynika Wilson explains why kicking their contactless innovation plans into overdrive can give CUs...
The nearly year-long pandemic has rapidly changed how consumers are making payments, with emerging methods such as contactless solutions increasing in popularity. Touchless payments are quickly becoming the method of choice for consumers, with one January 2021 study indicating 38% of United States consumers use...
Credit unions (CUs), as much as other financial entities, are seeing a boom in competition as banking moves to online and mobile channels. Customers today expect to be able to access financial services instantly, which can put pressure on CUs that need to stretch restricted...
February 26, 2021
The nearly year-long pandemic has rapidly changed how consumers are making payments, with emerging methods such as contactless solutions increasing in popularity. Touchless payments are quickly becoming the method of choice for consumers, with one January 2021 study indicating 38% of United States consumers use contactless at every possible opportunity when making transactions. Those opportunities […]
April 01, 2020
Credit unions (CUs), as much as other financial entities, are seeing a boom in competition as banking moves to online and mobile channels. Customers today expect to be able to...
July 02, 2025
America’s consumer watchdog has cancelled a $95 million fine against the country’s largest credit union. The Consumer Financial Protection Bureau (CFPB) levied that penalty against Navy Federal Credit Union last year, alleging the lender had charged its members illegal overdraft fees. But on Tuesday (July 1), the CFPB issued an order terminating that decision, without […]
November 07, 2024
The government has ordered America’s largest credit union to repay its customers $80 million. Navy Federal Credit Union was issued that order Thursday (Nov. 7) by the Consumer Financial Protection...
October 12, 2016
The Consumer Financial Protection Bureau said on Tuesday (Oct. 11) it ordered Navy Federal Credit Union to pay $28.5 million in fines and restitution over civil charges it allegedly made...