3SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr I am a firm believer in not making the same mistake twice; I prefer to make new ones instead. In that vein, please do me a favor and double-check the way your credit union handles delinquent credit card accounts.Late last week, a federal district court in Massachusetts ruled that American Airlines Federal Credit Union violated both the Truth in Lending Act and a similarly worded Massachusetts state law by seizing funds in the member’s account after she became delinquent on credit card payments due to the credit union. A recurring question that the Association’s Compliance Department fields is just what steps credit unions can take to “offset” member funds when they fall behind on credit card payments. The case provides a great opportunity for everyone to remember the basic rules and double-check their procedures. (See Martino v. Am. Airlines Fed. Credit Union, No. 14-10310-DPW, 2015 WL 4920015, at *4 (D. Mass. Aug. 18, 2015)).The most important thing to keep in mind is that the Truth in Lending Act extends added protections to credit card holders. Consequently, if you want the option of claiming funds to recover delinquent credit card payments, there are several steps you must take ahead of time. Fortunately, this is one area where the regulations are self-explanatory. continue reading »
Meanwhile, Johne Murphy is out for “a number of weeks” after breaking a bone in his hand during training last week. Munster will continue to monitor the fitness of CJ Stander, Simon Zebo and Conor Murray ahead of the visit of Sale in their final Champions Cup pool match.Both Zebo and Stander picked up ankle injuries in Saturday’s defeat to Saracens, with the latter set to undergo a scan.Murray will have the neck injury sustained against Zebre reviewed as the week progresses.