Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

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
#Maine #creditunion membership growth continues record pace http://t.co/yFRur4TQ0x
6 hours ago
.@TheNCUA closes N.Dade Community Development FCU,Miami Gardens, Fla. determining CU violated some charter provisions,bylaws & fed. rules.
7 hours ago
Why a #creditunion can be a good fit for #smallbiz http://t.co/l7Df9b8vQZ @fundbox
9 hours ago
Who's most adept at saving these days? The middle class, says @Bankrate http://t.co/zVi7typdVU
10 hours ago
.@OregonCCU donates $20K in Sprint program monies to @CMNHospitals @CU4Kids via @NWCUA http://t.co/0wTAH5NTNI
10 hours ago