ARLINGTON, Va.—New-home sales in August were up 1.5% from July's upwardly revised rate of 729,000 annualized units to 740,000 units.
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WASHINGTON–Treasury Secretary Janet L. Yellen offered a warning to lawmakers of “catastrophic” consequences if Congress doesn’t soon raise or suspend the statutory debt limit, while Federal Reserve Chairman Jerome Powell said inflation is likely to stay high in the coming months before moderating.
ARLINGTON, Va.—The increasing use of digital assets is also increasing risk to the credit union system, NAFCU told NCUA.
WASHINGTON–The House Subcommittee on Consumer Protection and Financial Institutions will hold a hearing today on the banking system at which two pieces of legislation of interest to credit unions will be considered and at which two banking industry execs will testify. Credit unions will not be represented.
DALLAS–The presidents of two Federal Reserve banks have announced plans to exit their positions following controversy related to their trading securities that could have benefited from the central bank’s 2020 intervention in financial markets.
ALEXANDRIA, Va.–Credit unions are being reminded by NCUA that many homeowner protection programs put in place by the government during the pandemic are now expiring, and credit unions have until tomorrow to act on a number of related issues.
SAN FRANCISCO–Wells Fargo has agreed to pay yet another fine over its activities, in this case $37 million to settle a government lawsuit accusing the bank of defrauding hundreds of commercial customers.
ARLINGTON–Concerns over the potential for increased administrative burden on CUs related to the Paperwork Reduction Act have been shared with NCUA in a letter from NAFCU.
GRAND RAPIDS, Mich.– The National Association of Credit Union Services Organizations (NACUSO) said it is now accepting entries for the 2021 Next Big Idea Competition. The deadline to apply is Oct. 1, 2021.
LANSING, Mich.– A new law in Michigan requires banks and credit unions to report financial exploitation committed against vulnerable customers/members.