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Alternative needed to adding rules to overdraft protections: CUNA

first_img 10SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr CUNA continues its advocacy efforts after last week’s discussion with the Consumer Financial Protection Bureau (CFPB) about overdraft protections (ODP) and followed up the meeting Thursday with a letter to CFPB staff. CUNA subcommittees traveled to Washington, D.C., last week to discuss regulatory relief with the CFPB and National Credit Union Administration.“As noted by several credit unions during the meeting, credit union members utilize ODP and small dollar loan products in a reasonable and responsible way,” reads CUNA’s letter.“In addition, these loan products and services are often the best financial option for these consumers. We echo the comments of the credit unions at the meeting, and request that the CFPB continue and increase its outreach to credit union members and other consumers in order to gain a complete understanding of how and when these products and services are used,” the letter says.CUNA advocates that the CFPB remains focused on ensuring consumers understand ODP as a service, rather than actual ways to regulate the service. continue reading »last_img read more

British Virgin Islands to grant Taiwan visa-free entry

first_imgPhoto credit: roc-taiwan.orgTAIPEI, Taiwan (CNA) — The British Virgin Islands (BVI) will be the 125th country or region to grant visa-free entry or landing visas to Taiwan passport holders, the Ministry of Foreign Affairs (MOFA) in Taipei said on Wednesday. The details and when the privilege will take effect, however, will be announced after negotiations with the BVI government, the MOFA said in a press statement. The statement noted that the visa-waiver program will follow the one adopted by the British government in March 2009. The BVI is the sixth British overseas territory — after Bermuda, Gibraltar, Turks and Caicos, St Helena, and Falkland Islands — to establish such an agreement with Taiwan, it said. The visa-free entry scheme should boost bilateral ties, increase cultural exchanges and encourage tourism, it added. Although the BVI consists of a small population of 25,000, its tourism and financial service industries have made it one of the most thriving economic areas in the Caribbean, according to the MOFA. By Nancy LiuCaribbean News Now Share Share Share NewsRegional British Virgin Islands to grant Taiwan visa-free entry by: – January 5, 2012center_img Tweet Sharing is caring! 12 Views   no discussionslast_img read more