WASHINGTON—The Federal Trade Commission has released its new report, Protecting Older Consumers, 2022-2023, A Report of the Federal Trade Commission, which has that older adults reported losing more than $1.6 billion to fraud in 2022.
Fresh Today
CHAPEL HILL, N.C.–Driven by what it called a “slight improvement” in advisor productivity and another year of gains in financial advisor headcount, credit unions overcame the “challenges of an uncertain economy to post gains in revenue from their investment services businesses last year,” according to the 2022-2023 Kehrer Credit Union Survey.
BASEL, Switzerland—Legal frameworks ensuring user privacy and the freedom to choose between central bank digital currencies (CBDCs) and other forms of money will be key in driving CBDC adoption, according to a new report.
BASEL, Switzerland—The Bank of International Settlements has concluded its CBDC pilot and said that decentralized finance elements could bring about a “new generation” of financial market infrastructure.
Based on How Their Credit Cards are Performing, Profit Estimates are Slashed for Nordstrom’s, Kohl’s
NEW YORK—BofA has slashed its profit estimates and price targets for Nordstrom and Kohl's, saying credit card data indicates rising financial stress on households amid higher interest rates.
WASHINGTON–Testifying before the very committee that employs her, NCUA board nominee Tanya Otsuka said during her nomination hearing that NCUA’s mission of ensuring a strong system of cooperative credit is one that “resonates with me both personally and professionally.”
WASHINGTON—Ahead of the Senate Banking Committee nomination hearing that happened to be held on International Credit Union Day for NCUA board nominee Tonya Otsuka, who would replace current Board Member Rodney Hood, both NAFCU and CUNA sent the committee an outline of key credit union issues they want to see considered.
WASHINGTON–The Consumer Financial Protection Bureau (CFPB) has proposed a rule it is saying will “accelerate a shift toward open banking,” where consumers would have control over data about their financial lives and would gain new protections against companies misusing their data.
CHEYENNE, Wyo.–Two credit unions are seeking to merge across state lines and form a multi-billion-dollar institution.
WASHINGTON–Lending has declined slightly, the nation’s Federal Reserve Banks are reporting.