LONDON—Are mobile payments finally making their long-awaited big breakthrough?
Fresh Today
AUSTIN, Texas–A new study of consumers who would not consider opening a checking account with a community bank or credit union has found Gen Z (ages 18-23) and Millennials (ages 24-38) combined (31%) are twice as likely as their Gen X (ages 39-53) and Boomer (ages 54-74) (15%) counterparts to cite lagging technology as a barrier to banking locally.
WASHINGTON—Millennials are 25% more likely to report they have lost money to fraud than consumers aged 40 and over, according to a new Federal Trade Commission analysis of consumer complaint data.
FORT WASHINGTON, Penn.–TruMark Financial Credit Union is reporting it is rolling out a point-of-sale lending program through local merchants in the five-county Philadelphia market.
WASHINGTON—An interagency rule to loosen Volcker rule requirements on big banks has been finalized by the Federal Reserve.
SEATTLE–New research suggests that while the evidence shows teaching financial education at an early age helps people develop stronger money management habits as adults, most parents simply aren’t to talking with their children about money, according to BECU’s Finance and Parents Survey.
WASHINGTON—Bipartisan legislation offered by U.S. Sen. Rob Portman (R-OH) to bolster cybersecurity at the local and federal levels has been passed by the Senate.
RALEIGH, N.C.–State Employees Credit Union has made a $125,000 donation to the Worldwide Foundation for Credit Unions to support Project Storm Break, the disaster relief fund helping credit unions in The Bahamas recover from of Hurricane Dorian.
ARLINGTON, Va.—Total consumer credit rose 5.2% in August (seasonally adjusted, annualized) and is up 5% versus a year ago.
NEW YORK–Approval rates for small business loan applications rose to another post-recession record (27.9%) at banks of $10 billion or more in assets, but hit a record low during September at credit unions, according to one just-released survey.