Navigating change, the WBJ rundown: Navy Federal Credit Union, CFPB, Economic Development, DC Real Estate, MicroStrategy, Bitcoin, TTR Sotheby’s, Washington DC, Government Oversight, Leadership

Washington, D.C.’s economic, financial, and real estate sectors are seeing significant changes.

The Consumer Financial Protection Bureau (CFPB) has fined Navy Federal Credit Union (NFCU) over allegations of aggressive overdraft practices. The CFPB claims that NFCU misrepresented overdraft fees and manipulated transaction orders to maximize charges. NFCU has agreed to a settlement and will revise its policies. Details on the CFPB’s findings and NFCU’s response are available here.

Derek Ford, a senior executive at the Washington DC Economic Partnership, is leading new business retention efforts in the D.C. area. Ford’s plan focuses on resources and support systems to help local businesses thrive amid rising costs. Learn more about Ford's strategy here.

In real estate, former President Donald Trump is selling a luxury property in McLean, VA, listed with TTR Sotheby’s. The estate is expected to draw high-net-worth buyers near the D.C. metro. More details on this sale are available here.

Meanwhile, Michael Saylor’s company MicroStrategy is expanding its Bitcoin investments, aligning with growing interest in digital assets in D.C.’s tech and financial sectors. Read more about this decision here.