MCLEAN, Va.-- The 30-year fixed-rate mortgage moved higher this past week, averaging 6.11%, Freddie Mac reported.
Fresh Today
WASHINGTON— The Senate Thursday passed H.R. 6644, the “Housing for the 21st Century Act,” advancing a sweeping housing-affordability package that could eventually create an opening for long-sought credit union priorities—but as approved by the Senate, the bill stops short of including several key provisions the industry had secured in the House, including Central Liquidity Facility modernization and other operational reforms.
TROY, Mich.— Buy Now, Pay Later use continues to gain ground with U.S. consumers, and the latest data from J.D. Power suggest the trend is becoming increasingly mainstream—especially among younger users—even as traditional financial institutions are beginning to outperform fintech providers on customer satisfaction.
WASHINGTON— The Defense Credit Union Council is urging the Senate to adopt a bipartisan amendment from Sens. Alex Padilla (D-CA) and Kevin Cramer (R-ND) that would restore and modernize the NCUA’s Central Liquidity Facility, arguing the move is essential to ensuring credit unions—especially those serving military communities—retain access to a critical emergency liquidity backstop.
WASHINGTON— Stablecoin users will not receive any form of federal deposit insurance under the new U.S. stablecoin framework, with Federal Deposit Insurance Corp. Chairman Travis Hill saying the FDIC plans to make clear that payment stablecoins also will be barred from so-called pass-through insurance, according to reporting by CoinDesk.
WASHINGTON--The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% on a seasonally adjusted basis in February, after rising 0.2% in January, the U.S. Bureau of Labor Statistics reported.
WASHINGTON--Recent Regulatory Alerts from America’s Credit Unions detail pending proposals that will affect credit unions, along with upcoming deadlines to file comments. Members are encouraged to send comments to America’s Credit Unions, sharing insights to help inform the comments submitted for each proposal.
WASHINGTON—London-based fintech Revolut is taking a major step toward expanding in the United States, filing for a national bank charter with the Office of the Comptroller of the Currency and FDIC, according to PYMNTS.
PURCHASE, N.Y.—Artificial intelligence is rapidly moving from assisting consumers with shopping to actually making purchases on their behalf, a shift that payments companies say will reshape how commerce works—and how trust is verified when machines spend real money.
DENVER— Colorado lawmakers are considering legislation that would give banks and credit unions expanded authority to intervene when they suspect a customer—particularly an older or vulnerable adult—is the target of financial exploitation.