NEW YORK–U.S. household debt reached $12.29 trillion in the second quarter of 2016, up $434 billion from the same time one year earlier, as auto loans and credit card debt increased, according to a Federal Reserve Bank of New York survey.
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WASHINGTON – The Consumer Financial Protection Bureau is being “strongly encouraged to reconsider” its rejection of a bipartisan call for regulatory relief, according to a letter from CUNA and all 38 state credit union leagues.
LAWRENCEVILLE, Ga.—The average price of a used vehicle for model years 2011-2015 depreciated by 1.5% during July, slightly better than June (-1.7%), Black Book reports.
REDWOOD CITY, Calif.—A Russian cybercrime group has hacked into Oracle’s MICROS point-of-sale credit card payment systems, according to KrebsOnSecurity.
ARLINGTON, Va.—NAFCU told the CFPB that it supports the Bureau’s privacy notice changes, but noted credit unions’ concerns over the removal of the alternative notice delivery method and the proposed 60-day notification requirement.
MADISON, Wis. – Applications are now being accepted for the annual Excellence in Lending Awards, which recognize outstanding credit union lending results and best practices.
LONDON–The United Kingdom’s Competition and Market Authority (CMA) has issued its final report on its investigation into the U.K’s retail banking market and found that in the three years since changes were made to allow for easier account switching there has been relatively little consumer movement.
WEST JORDAN, Utah–Mountain America Credit Union said it has become a “Member Benefit Provider” of the National PTA, meaning any PTA member can also join the credit unions.
SAN DIEGO–SchoolsFirst Federal Credit Union has won Xpress Data’s 4th Annual Credit Union Chili Challenge, beating out 18 other credit union teams.
SKIBBERDEEN, Ireland–A “Rio Party” hosted by Skibbereen Credit Union here to watch two local rowers in the Olympics had to be delayed due to weather in Rio de Janeiro.