ALEXANDRIA, Va.– NCUA’s proposed 2025-26 budget is simply too high, according to the industry’s two largest trade groups, which offered input and feedback on where they want to see the agency take action on its expenses.
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ALEXANDRIA, Va.—During its open board meeting Thursday, NCUA shared good and bad news regarding the National Credit Union Share Insurance Fund and its ability to cover potential credit union losses.
WASHINGTON—In a move that will likely be viewed positively by many credit unions, the Consumer Financial Protection Bureau has finalized a rule to supervise the largest nonbank companies offering digital funds transfer and payment wallet apps—such as Zelle, Google Pay, PayPal and Venmo.
WASHINGTON—During his testimony before the House Financial Services Committee Wednesday, NCUA Chairman Todd Harper did not miss an opportunity to press Congress for the agency receiving third-party vendor oversight authority and eliminating restrictions on the NCUSIF’s equity ratio.
MILWAUKEE, Wis.—With the Federal Reserve cutting rates another 25 BPs at its November meeting, the declining-rate environment is presenting significant opportunities for credit unions via HELOCs and, to a lesser extent, auto loan refis, Raddon, a Fiserv company, says.
CARMEL, Ind.—Too many hands in the process and no centralized repossession system are driving the number of wrongful auto repossessions higher, says Allied Solutions, which offers advice to credit unions on how to avoid this issue.
LAKE FOREST, Ill.—Banks and credit unions with successful overdraft programs are setting higher average OD limits and allowing artificial intelligence to determine those limits per person, says Moebs $ervices.
COLORADO SPRINGS, Colo.—One credit union has ditched the formal training room and turned to virtual reality to educate staff. And the move, in its early stages, is already making a big improvement in staff/member engagement.
CHICAGO—Consumer credit balances continued to grow across all credit products during the third quarter of 2024, but in many cases, that growth has slowed, TransUnion reported.
LAWRENCEVILLE, Ga.—Used car values are surprisingly stable, and vehicle history reports are once again key to determining value, Black Book said, citing key trends lenders should be watching as 2024 winds down.