Michigan credit unions rebrand after merger

American Banker

Credit unions M&A Branding MichiganThe name change, which will take effect Jan. 1, comes following the merger of CP Financial and Washtenaw Federal Credit Union.

Michigan Passes Self-Driving Regulations

PYMNTS

9), Michigan became the first state in the union to pass statewide, comprehensive self-driving vehicle regulations that allow autonomous vehicles to drive … well, autonomously. Michigan, the legacy home of the nation’s auto industry, now leads the nation in autonomous vehicle policy, says Recode — ahead of Florida, California and a few others with some current legislation. As of now, only motor vehicle manufacturers can operate self-driving car networks in Michigan.

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Michigan University’s Consumer Survey Shows Continued Economic Rebound 

PYMNTS

1-10 survey of American consumers by the University of Michigan show an unexpected upturn, with respondents anticipating larger income gains and lower inflation during the year ahead, the University of Michigan reported on Friday (Oct. The Michigan Consumer Sentiment Index (MCSI) — conducted monthly by the University of Michigan — shows that most households anticipate that the U.S. The preliminary results of an Oct.

Unemployment Fraud In Michigan Could Bump Legit Jobless Claims

PYMNTS

Unemployed Michigan residents ought to be wary of a scam in which fraudsters are using stolen personal information to apply for unemployment benefits, according to Michigan-based news site MLive.com. The Michigan Unemployment Insurance Agency ( UIA ) has since instituted more steps to verify peoples’ identities and make sure an application was sent by the person in question and not a scammer, according to a press release from the state. Michigan has reported 1.65

Coronavirus Refunds: Michigan Tells Auto Insurers To Offer Reimbursements, Waivers

PYMNTS

And Michigan is asking insurance companies to provide reimbursements or waivers to auto insurance policyholders. Michigan vehicle insurance firms have about more than a week to create plans for providing their customers with premium waivers or reimbursements because of the COVID-19 health crisis, ABC12 reported Tuesday (June 2). Coronavirus Auto Insurance Gretchen Whitmer insurance rates michigan News pandemic

Giving The Gift Of Michigan With Curated Boxes

PYMNTS

It’s all “nice, local, Michigan-made food products,” Founder Cory Wright told PYMNTS in an interview. The big draw, Wright said, is that someone has to have some type of allegiance to Michigan. Mitten Crate has also found that college students attending University of Michigan may have developed an allegiance to the state, and may want to share local gifts with their families. Retail ecommerce gift boxes gifts michigan Mitten Crate News subscriptions

Michigan Approves Charter For First LGBT Credit Union

PYMNTS

Michigan has approved a charter for a new financial institution designed for LGBT customers. We’ve been working with, and will continue to work with, the community to improve economic equality by removing the risks of intolerance and discrimination in banking services that continue to plague the community in different forms … We are extremely appreciative to the Michigan DIFS for its efforts on our application and the signing of the executive order to form Superbia Credit Union.”.

Mercantile in Michigan expands mortgage business to Cincinnati

American Banker

Mortgages Growth strategies Michigan Hiring Community banksThe company is looking to tap into a surge of homebuying tied to historically low interest rates.

Visa pilots card-not-present security app with Michigan State University FCU

Payments Source

The pilot leverages Keyno’s CVVkey technology that uses a dynamic card verification value 2 (CVV2) code to provide a higher level of security against fraud for online and mobile payments.

Coronavirus Refunds: Michigan Blue Cross Blue Shield Refunds $100M As Lockdown Slashes Medical Claims

PYMNTS

Blue Cross Blue Shield of Michigan and Blue Care Network plan to give back over $100 million to fully insured clients in 2020, according to an announcement. Healthcare Blue Care Network Blue Cross Blue Shield of Michigan Insurance News refunds What is Healthcare As the pandemic continues to disrupt everyday life the world over, some insurers are returning funds to their customers.

US Senators Press For Cash Airline Refunds; Michigan To Provide Season Ticket Refunds

PYMNTS

The University of Michigan will give a complete refund to season ticket holders in case the college football season is called off because of the coronavirus crisis, All About Ann Arbor reported. Coronavirus airline COVID-19 michigan News refunds season tickets sports ticketsThe coronavirus pandemic is upsetting normal life the world over, and plenty of consumers want refunds on things they paid for but aren’t able to use.

Leader of Michigan community bank abruptly resigns

American Banker

Revenue and expenses Michigan Succession planning RecruitingThomas Lopp cited health reasons for leaving Sterling Bancorp less than six months after becoming CEO. Sterling has been dealing with revenue issues after shutting down its biggest lending program over underwriting concerns.

Need a Lyft to the polls? Michigan Legacy has it covered.

American Banker

Elections Election 2020 Michigan LyftThe Detroit-area credit union is offering consumers within five zip codes free trips to voting sites on Election Day.

Coronavirus scuttles bank merger in Michigan

American Banker

M&A Coronavirus Michigan Community banksArbor Bancorp and FNBH Bancorp said the pandemic had created uncertainty about the regulatory process for securing approval for the deal.

Court ruling forces Michigan Legacy to scrap Lyft rides for Election Day

American Banker

Elections Election 2020 Credit unions Michigan Lyft Law and regulationAn appeals court upheld an 1895 state law that bars paying for rides to voting sites, a move one observer suggested is part of a broader partisan fight to impact voter turnout.

Michigan's CP Financial takes more steps to bolster growth

American Banker

Consolidations M&A Growth strategies Michigan Field of membershipHaving already changed charters for a statewide field of membership, the Jackson, Mich.-based based institution will now merge with Washtenaw Federal Credit Union.

2020 Embrace the Moment Gala for Michigan Council of Women in Technology

Perficient

The Michigan Council of Women in Technology (MCWT) virtually presented the 12 th annual Embrace the Moment – MCWT Digital Signature Gala on Saturday, October 17, 2020. This event empowers female leaders in Michigan who change the world through technology.

Sterling in Michigan revises 2019 earnings to reflect mortgage woes

American Banker

Mortgages Earnings Michigan Community banksThe company, which recently completed an audit, set aside funds to cover issues tied with a lending program it discontinued last year. The move cleared the way for Sterling to file an overdue annual report with the Securities and Exchange Commission.

ChoiceOne to enter new Michigan markets with Community Shores deal

American Banker

Community banking M&A Growth strategies MichiganThe company will pay $29 million for a bank located northwest of Grand Rapids.

United Federal Credit Union in Michigan to buy Edgewater Bank

American Banker

The acquisition will consolidate United's position in the St. Joseph market, where both institutions are based. Credit unions Community banking M&A Growth strategies Branch managers Branch banking

Sterling in Michigan facing Justice Department probe of mortgage practices

American Banker

C-suite Mortgages OCC Community banking Lawsuits Michigan DoJ Regulatory actions and programsThe company disclosed that an internal review of a now-discontinued loan program found that employees engaged in misconduct tied to income verification and requirements, among other things.

Michigan bank hires turnaround expert to tackle long list of challenges

American Banker

Mortgages AML Earnings Michigan Community banks RecruitingThomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.

Michigan Bankers, Local Newsrooms Work Together to Promote Banking

ABA Community Banking

The post Michigan Bankers, Local Newsrooms Work Together to Promote Banking appeared first on ABA Banking Journal. Through a TV news partnership, one state bankers association is raising public awareness about what banks do, the safety they provide and the support they give their communities. Community Banking Featured Retail/Marketing Bank community engagement Content marketing TV advertising

Mortgage review hangs heavy over Michigan bank's new CEO

American Banker

Community banking Qualified residential mortgages Mortgages Michigan CaliforniaTom Lopp abruptly suspended a program that accounted for 83% of Sterling Bancorp's mortgage production this year. An ongoing audit of the program and pressure to diversify beyond mortgages are reasons to watch Lopp and Sterling in 2020.

Partners Against Crime: Visa Leads Effort To Fight Fraud With New Dynamic CVV Codes

PYMNTS

That’s one of the takeaways from a recent PYMNTS panel discussion with Visa ’s Director of Global Chip Product Tom Rapkoch , Keyno CEO Robert Steinman and Assistant Vice President of Digital Strategy and Innovation at Michigan State University Federal Credit Union Ben Maxim.

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Veteran CEO of BlueOx Credit Union to retire

American Banker

Fran Godfrey, who has spent more than 35 years at the Michigan-based institution, will step down at the end of January. Career moves Credit unions Michigan Succession planning

How savings app Plinqit wants to help banks

Bank Innovation

Plinqit was developed by Ann Arbor-based startup HT Mobile Apps (HTMA), which confirmed on Monday that it added Bank Michigan […]. Carousel Daily Post 2 Product Design Retail Banking Sales & Marketing Bank Michigan Digit Dobot Fifth Third Bank HT Mobile Apps personal finance apps Plinqit

Michigan Court Rules Against Credit Unions In Ongoing ADA Litigation

New York's State of Mind

Earlier this week a Federal District Court in Michigan held that a blind person had the right to sue a credit union she claims has an inaccessible website even though she is not eligible for membership. It appears that reports of the demise of ADA website litigation have been greatly exaggerated.

Mortgage niche showed promise for Michigan bank. Then coronavirus hit.

American Banker

University Bancorp decided to shutter its wholesale mortgage lending business after it struggled to hire and train employees remotely. Servicing Mortgages Coronavirus Recruiting

Consumer Sentiment Index Rises To 78.9 In September

PYMNTS

The University of Michigan Survey of Consumers reported that its Index of Consumer Sentiment registered a 78.9 Economy Coronavirus economy News University of Michigan What's Hotresult for September 2020 based on preliminary data, up from 74.1

Wholesale mortgage showed promise for Michigan bank. Then coronavirus hit.

American Banker

University Bancorp decided to shutter the business after it struggled to hire and train employees remotely. Servicing Mortgages Coronavirus Recruiting

Lake Trust Credit Union to buy branch from Mercantile Bank

American Banker

The deal will expand the credit union's reach into western Michigan at a time when a growing number of banks are trimming their networks. Branch network Growth strategies Michigan Branch deals Branch banking

Is a Gas Station in Michigan Test Driving the Future of Mobile Payments?

Payments Source

Patrons of the GC Express gas station in Caro, Mich., have another choice to make at the pump: Do they want to pay with a credit union's mobile banking app? mobile technology

Fentura in Michigan to Raise $15 Million

American Banker

Fentura Financial in Fenton, Mich., is the latest banking company to outline plans to sell common stock. breaking_news dealmaking-strategy mi community-banking

Consumer Optimism Up; Coronavirus Fears Persist

PYMNTS

consumers, according to data from a University of Michigan consumer survey released Friday (June 12). In a statement, Richard Curtin , chief economist and director of the University of Michigan survey, attributed the rise to last week’s surprising jobs report and to moves by states to reopen the economy after the coronavirus shutdown this spring. Economy bank jobs Consumer Spending Consumer Survey Coronavirus economy employment job outlook News University of Michigan What's Hot