SPRINGFIELD, Ill.–State-chartered credit unions and banks and most mortgage companies in Illinois are now subject to a new Community Investment Act law.
Fresh Today
COSTA MESA, Calif.–The average price paid for a preowned vehicle hit a record of $25,463 in April, about $2,800 higher than in the same month last year, according to new data from J.D. Power. The price threshold marks the first time ever that the average used-car price had exceeded $25,000, the firm added.
WASHINGTON—Total consumer credit rose 7.4%, at a seasonally-adjusted, annualized rate, in March and is up 0.9% versus a year ago. Revolving credit, which is primarily credit cards, rose 7.9% during the month but is down 9% compared to March 2020.
ARLINGTON, Va.–NASCUS has filed separate comment letters with NCUA addressing both its proposed changes to the CAMEL rating system and to proposed rulemaking on the simplification of risk-based capital requirements (RBC).
COLUMBUS, Ohio–To celebrate Small Business Month, Telhio Credit Union said it is offering a number of special deals to local businesses. It is specifically promoting commercial credit cards, business checking accounts, merchant services and SBA loans.
NEW YORK–Inclusiv has announced plans to host a Virtual Conference in September.
WASHINGTON—Wells Fargo is facing a new probe from the CFPB over how it disclosed and assessed monthly fees on certain consumer bank accounts in 2016, the bank disclosed in a regulatory filing.
SEATTLE–Credit unions that build marketing promotions around Amazon’s massively popular Prime Day need to pay attention–the event is moving to a different day in 2021.
WASHINGTON—A new white paper on how to “get things done and minimize opposition” has been released by the CUNA Compliance & Risk Council.
ATLANTA—Greenlight, a startup that offers debit cards and investing for kids, has raised a $260 million Series D at a valuation of $2.3 billion, nearly doubling the unicorn valuation it received in a $215 million fundraise just last September.