CHICAGO—New credit growth for bank- and retail-issued cards is strongest among subprime borrowers, defined as consumers with Equifax Risk Scores of 660 or lower, according to the latest Equifax National Consumer Credit Trends Report.
Fresh Today
HARRISONBURG, Va.—The country will be celebrating Veterans Day today, and many credit unions have provided financial support to various related organizations.
CHICAGO—The Center for Financial Services Information (CFSI) has released a new study that has found just 30% of Americans say they are highly satisfied with their present financial condition.
CLEVELAND –Another person has been sentenced to prison for being part of the massive failure of St. Paul Croatian FCU here. Svetislav Vujovic, 42, has been sentenced to more than nine years in prison for illegally receiving more than $3 million from St. Paul Croatian FCU in exchange for cash payments to the credit union's one-time COO, according to authorities. Vujovic was found guilty earlier this year on all 14 counts against him, including 10 counts of making false statements to a federal credit union, two counts of money laundering and one count each of financial institution fraud and giving gifts for procuring loans.
LIBERTY, Texas—Denise May has been named president of Liberty County Teachers FCU here.
ARLINGTON, Va.—NAFCU has told the CFPB that when it comes to two modifications to Integrated Mortgage Disclosures under the Real Estate Settlement Procedures Act and the Truth In Lending Act (TILA/RESPA Final Rule), the intentions are good but additional changes need to be made.
LAKE MARY, Fla.—Two credit unions have chosen the UltraData Enterprise core solution from D+H.
RICHMOND, Va.—The Richmond Fire Department Credit Union and Richmond Police Department CU have agreed to merge. Meanwhile, in Iowa, $602-million DuTrac Community Credit Union said it will be absorbing via merger the $13-million Chemical Credit Union in Clinton.
WASHINGTON—CUNA is now accepting nominations for eight director positions on its board.
BIRMINGHAM, Ala.—Two weeks following the introduction of Apple Pay, American Express announced that tokenization is coming soon to some of its cards.