The Consumer Financial Protection Bureau today fined Navy Federal Credit Union for illegally charging customers overdraft fees, calling it the largest penalty the agency has levied against a credit union for illegal activities. The $177 billion, Vienna, Va.-based credit union allowed customers to make transactions beyond their available balances, then charged them surprise overdraft fees, […]
Vaidik Trivedi
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Navy Federal Credit Union selected SaaS core modernization provider Zafin to update its core and move away from its legacy mainframe. “We selected Zafin to help us as we work to externalize our products and pricing from the banking core,” Pete Amstutz, senior vice president of savings and membership at Navy Federal, told Bank Automation […]
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BNY Mellon has selected technology services provider Accenture to enhance the bank’s data and analytics services. The bank will use Accenture’s AI and data expertise to introduce new services and create new client experiences, according to an April 15 release. BNY Mellon’s Data and Analytics business provides software and data management to more than 800 […]
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Navy Federal Credit Union is developing an omnichannel lending platform as credit unions and captives prioritize technology upgrades in the face of increased competition and changing consumer preferences. Along with migrating more processes to the cloud, Navy Federal is aiming to give consumers the same financing and servicing experience regardless of what channel or device they […]
Amanda Harris
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Vaidik Trivedi
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Whitney McDonald
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