NEW YORK—Companies across the U.S. are heading toward a “refinancing cliff” that could cost them billions in the new era of high interest rates, setting up a "slowly unfolding crisis," according to one new analysis.
Fresh Today
COCKBURN, Turks and Caicos–As part of a government-backed initiative to launch a credit union for residents of the islands, plans are moving forward to give each resident an account when the credit union opens.
PURCHASE, N.Y.— Mastercard has launched a peer-to-peer cryptocurrency credentials pilot program the company said is designed to simplify how users send and receive digital currencies.
DUBLIN, Calif.–The online banking system at Patelco Credit Union remains down, affecting more than 500,000 members, with the credit union now confirming it has been hit by a ransomware attack.
WASHINGTON— The Consumer Financial Protection Bureau (CFPB) has published a new Supervisory Highlights report that shares the key findings from its recent examinations of auto and student loan servicing companies, debt collectors, and other financial services providers.
WASHINGTON–Some 97.4% of mortgages were current and performing at the end of Q1, up 0.2 percentage points from Dec. 31, 2023, but down four basis points from Q1one year earlier, according to new data from the Office of the Comptroller of the Currency (OCC).
RIDGECREST, Calif.–Two California credit unions have announced plans to merge.
SAN ANTONIO–Ken Raymie has exited as CEO of the $757.2-million Generations Federal Credit Union. CFO Rick Divina has been named the interim CEO.
CHANTILLY, Va.–Virginia-based Justice Federal Credit Union said it has expanded its footprint in Florida with the completion of its merger with Law Enforcement & Technology FCU, formerly known as United Police FCU in Miami.
WASHINGTON—The Treasury Department has finalized a rule requiring cryptocurrency brokers, including exchanges and payment processors, to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service.