WASHINGTON—Credit union loans outstanding increased 0.2% in March, compared to a 0.2% decrease in February of 2021 and a 0.3% increase over March of 2020, according to CUNA’s latest Monthly Credit Union Estimates.
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WASHINGTON–The Justice Department has launched an investigation into whether a number of fintechs may have made mistakes while distributing billions of dollars in Paycheck Protection Program (PPP) loans, according to a new report.
WASHINGTON—As the CFPB considers changes to mortgage servicing requirements to protect borrowers affected by the coronavirus pandemic, NAFCU is calling on the Bureau "to provide clarity surrounding this rule's early intervention requirements and the streamlined loan modification option to reduce implementation burdens on servicers."
ALEXANDRIA, Va. – NCUA has issued a prohibition notice banning one person from ever again working in credit unions or any federally insured financial institution.
SAN FRANCISCO–The rapidly growing fintech Chime has been ordered to stop using the word “bank” when describing itself and its services.’
MADISON, Wis.––The World Council of Credit Unions said it will host a webinar in June titled “Sharing Digitization Strategies Among Credit Unions & Cooperative Banks.”
WASHINGTON–The market indicators that are intended to support the soon-to-be-replaced interest-rate benchmark LIBOR have been announced by a Federal Reserve working group.
TORONTO–It won’t come as a surprise to many in credit unions that due to the lockdowns people across North America have been pouring money into home improvement projects. Now, new research offers additional insights into where at home many CU members have been focused.
WASHINGTON–The nation’s retailers are welcoming a Federal Reserve announcement it plans to clarify what financial institution must pay retailers to decide where to route online debit card transactions for processing the same as they do with in-store debit transactions.
ARLINGTON, Va.–The National Association of State Credit Union Supervisors (NASCUS) has submitted comment letters to NCUA and Financial Crimes Enforcement Network (FinCEN) outlining the potential effects on the state credit union system as it applies to reporting requirements for CUSOs, as well as granting access to a Beneficial Ownership database for state regulators.