WASHINGTON—The Federal Trade Commission has sent its annual report to the Consumer Financial Protection Bureau on its enforcement and related activities in 2022 on the Truth in Lending Act (TILA), Consumer Leasing Act (CLA), and Electronic Fund Transfer Act (EFTA).
WASHINGTON—As expected, for the first time in 14 months the Federal Reserve’s Open Market Committee adjourned today without raising interest rates, although the Fed signaled it is leaning toward another increase when it meets in July if inflation numbers don’t continue to cool.
MADISON, Wis.–After 14 Months of rate increases, TruStage’s chief economist is offering an update on the effects on CU balance sheets, and predicts the Fed is done raising rates.
NEW YORK– In May 2023, the overall commercial mortgage-backed securities (CMBS) delinquency rate shot up 53 basis points to 3.62%, the highest level since March 2022, according to new data from commercial real estate data and analysis firm Trepp.
BOULDER CITY, Nev.–The story of how TruStage has gone from a company where nearly everyone—especially management—all looked the same and where one leader once said it wasn’t ready for diversity, to becoming a champion of DEI was shared by one person who has been a key driver in that evolution.
WASHINGTON—The annual debate over providing banks with access equal to that of credit unions on military bases is back in earnest, with three CU trade groups sending a letter to Congress in advance of mark-up of the National Defense Authorization Act (NDAA).
WILLIAMSPORT, Penn.–Horizon FCU said it is moving to eliminate all of its certificates of deposit with the exception of those with 12-month terms—and then plans to eliminate those in 2024.
WASHINGTON—With Treasury Secretary Janet Yellen appearing before Congress this week, NAFCU has sent a letter to members of the House Financial Services committee expressing concerns it has over issues it said will affect credit union.
LAWRENCEVILLE, Ga.—Used vehicle values declined slightly in May, according to a new report from Black Book.
JUNEAU, Alaska–A Juneau man who formerly worked for an armored car service has pleaded guilty to charges of theft, embezzlement, and misapplication of funds by a person connected in a capacity with a bank and credit union for stealing nearly $580,000.
