NEW YORK–A little-discussed but “open secret” at many car dealerships is growing and causing losses to credit unions and banks that make auto loans, as well as the borrowers who are already in trouble, according to one new report.
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SEATTLE–BECU announced it is extending its support of homebuyers by committing $2 million to its First-Time Homebuyer Grant program in 2020.
NEW YORK—Soaring stock prices are propelling Visa and Mastercard up the market value charts, where they currently rank seventh and 11th, respectively, among companies in the benchmark S&P 500 index.
MENLO PARK, Calif.—Zero-fee stock-trading app Robinhood is launching Cash Management, a new feature that earns users 2.05% APY interest on uninvested money in the account with the ability to spend it through a special Mastercard debit card.
WASHINGTON—The credit union system has a shared commitment to advancing diversity and inclusion, CUNA told Congress, while simultaneously expressing worries a new proposal will require employment diversity data from all institutions regardless of size.
WASHINGTON—Consumers reported losing $201 million to romance scams in 2019—up nearly 40% since 2018, according to new Federal Trade Commission data from the agency’s Consumer Sentinel Network.
HANSCOM AFB, Mass.–Hanscom Federal Credit Union is making a Valentine’s Day offer that it is actually offering throughout February.
CINCINNATI—Car lease credit applicants registered a 70% approval rate in January, a decrease from the December rate of 72%, Swapalease.com reported.
ALEXANDRIA, Va.–A final interagency policy statement related to the new CECL accounting standard and as well as discussion of issues related to allowance for credit losses (ACLs) at credit unions will be on the agenda of the NCUA board when it meets next week.
WASHINGTON—The lack of a requirement that a company disclose its beneficial ownership information is one of the top vulnerabilities in the U.S. financial system, the U.S. Treasury Department according to a new report.