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
#NewsNow S.F. paper notes Bay Area CUs' growth, 100M milestone http://t.co/rxl2TrwRIt
20 minutes ago
Take 1 step to prepare See #NewsNow http://t.co/iAmMGHY9V3 HT @AgilityRecovery graphic #NPM @Readygov http://t.co/KDvJl9K9hJ
43 minutes ago
#NewsNow: Seth Carpenter nominated to be @USTreasury assistant sec. for financial markets. http://t.co/SfLjscjrEE
57 minutes ago
Newly merged VolCorp #creditunion elects board #NewsNow http://t.co/4nE9uSgBlx
1 hours ago
#NewsNow: @CUNA seeks comment on #FinCEN customer due diligence proposal. http://t.co/l1cowIHBNB
1 hours ago