Railroad Industrial Credit Union here to serve community

One of the oldest financial institutions in Tampa Bay is now one of the newest in Ruskin with the recent opening of the Railroad and Industrial Federal Credit Union. “We were founded in 1935 by 14 guys working for the railroads,” said Burt Bravo, account executive. “They pooled $70 in assets and created the credit […]

48% of credit unions surveyed say auto is top growth segment

TransUnion’s data shows credit union auto loan origination volume grew at a rate more than double the pace of the entire industry. The findings came from a survey of 90 credit union executives that TransUnion released last week also highlighted that institutions’ appetite for auto paper certainly isn’t waning; it’s perhaps even becoming greater. TransUnion’s […]

Gov. Scott signs patent trolling bill into law

On Tuesday, Florida Gov. Rick Scott signed HB 439 into law. The legislation includes language protecting Florida’s businesses, including credit unions, from patent trolls. The legislation creates a private cause of action for a business receiving a demand letter in bad faith from a patent troll. Among the provisions included is a “loser pays” requirement, […]

Florida OFR commissioner reaches out to CFPB

Florida Office of Financial Regulation (OFR) Commissioner Drew J. Breakspear sent a letter to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray on June 1. The letter was responding to future proposed rules for the regulation of payday lenders, vehicle title, and similar small-dollar loans. “I strongly support Florida’s regulatory model for payday lending, and […]

Alabama’s deputy tax commissioner victim of fraud

Alabama’s commissioner of the department of revenue is on one of three IRS task forces looking to find ways to combat tax fraud. The IRS is investigating $50 million in tax fraud that happened during the 2015 tax season. Much of the fraud came through phony state returns. One of the victims was Joe Garrett, […]