NEW YORK–A new analysis of the Federal Reserve’s plans to “tame the housing frenzy with higher interest rates has a major blind spot. More than 40% of all U.S. mortgages—most of which are fixed-rate—were obtained in 2020 or 2021 when rates were “rock bottom.”
Fresh Today
DEARBORN, Mich.––DFCU Financial Credit Union has announced a year-end bonus distribution to members of $40.8 million as part of its “Cash Back” program.
WASHINGTON—The CFPB should initiate a Small Business Regulatory Enforcement Fairness Act (SBREFA) review of any potential overdraft and non-sufficient funds (NSF) proposed rules, America’s Credit Unions and other financial services trades said in a letter to the CFPB.
DANVILLE, Penn.–MC Federal Credit Union has named a new president and CEO.
ALEXANDRIA, Va.–NCUA said it will host a webinar on Jan. 11 that explains how to use the agency’s simplified CECL tool.
MADISON, Wis.—Nominations are now open for World Council of Credit Unions’ 2024 Distinguished Service Award (DSA).
ALBANY, N.Y.–New York Gov. Kathy Hochul has announced she plans to introduce legislation that would require companies providing buy now, pay later (BNPL) financing to obtain a license to operate in the state.
WASHINGTON—Voice over Internet Protocol (VoIP) provider XCast Labs, Inc., has agreed to settle Federal Trade Commission charges that it funneled hundreds of millions of illegal robocalls through its network, even after receiving multiple warnings about the unlawful conduct.
NEW YORK–Municipal Credit Union has issued a statement to clarify reporting that appeared in one local publication that suggested a large-scale data breach occurred at the credit union. The clarification suggests the breach did not occur at the scale implied by the report.
TYSONS, Va.– The PenFed Foundation, the philanthropic arm of PenFed Credit Union, said it has entered into a partnership with Canine Companions to help provide more service dogs to veterans and others with a disability.