Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Mass. banking commissioner seeks clearer savings ads
BOSTON (3/18/11)--Massachusetts Commissioner of Banks David J. Cotney asked credit unions and banks to review their deposit advertising to make sure that they are providing a “full and fair disclosure of all material terms of an offer, clearly and conspicuously,” in a letter dated March 8. He reminded managers of financial institutions that they must be in compliance with the Truth in Savings Law, whose purpose is to “allow a consumer to make meaningful comparisons among institutions on similar products,” according to the Massachusetts Credit Union League (e-Weekly March 8). Cotney also cited the state’s consumer protection statute chapter 93A, which protects consumers from unfair and deceptive practices. The letter provides specific examples. To read the letter, use the link.
Other Resources

RSS print
News Now LiveWire
.@CUNA VP of Econ MIke Schenk featured in Money magazine http://t.co/SC6Shv0lDH
10 hours ago
#NewsNow: @CFPB develops tools for student loan debt relief. http://t.co/a6pOReC86F
10 hours ago
Stephanie Smith has been named as the new executive director of America's #CreditUnion Museum. (2 of 2)
11 hours ago
America's #CreditUnion Museum executive director Peggy Powell is stepping down after 15 years. (1 of 2)
11 hours ago
#NewsNow League presidents raise voices for data breach protection http://t.co/zX1UsvsQP6
13 hours ago