CLEVELAND–After nearly three years of court battles, the fast-food restaurant chain Sonic has agreed to pay $5.73 million to settle a class action lawsuit over a huge 2017 data breach that affected at least 4,000 credit unions and banks and more than five million consumers.
THE news
WASHINGTON–Even though mortgages rates actually declined last week, both refinance and purchase loan demand declined, with total mortgage application volume down 11% for the week, according to the Mortgage Bankers Association's seasonally adjusted index.
WASHINGTON—CUNA has written to members of Congress who have roles in appropriations expressing support for $50 million in funding for the U.S. Agency for International Development’s Cooperative Development Program (CDP) for fiscal year 2023.
WASHINGTON—A group of Senators, led by Jeff Merkley (D-OR) and Jacky Rosen (D-NV) have joined together in a letter to congressional leaders calling for the inclusion of the Secure and Fair Enforcement (SAFE) Banking Act in the America COMPETES Act of 2022.
DEARBORN, Mich.—The $6.4-billion DFCU Financial here has agreed to buy $689-million First Citrus Bank, based in Tampa, Fla., the credit union announced.
ARLINGTON, Va.—Total consumer credit rose 14%, at a seasonally adjusted, annualized rate in March and is up 7.5% compared to a year ago.
ARLINGTON, Va.–NCUA should immediately raise the permissible interest rate ceiling to mitigate unnecessary interest rate risks facing federal credit unions, NAFCU told the agency in a letter.
ROBINS, Ga.–Robins Financial Credit Union said it has become the latest to eliminate non-sufficient funds (NSF) fees for all members.
WASHINGTON–With the Federal Reserve set to meet this week on rates, the price index it watches most closely climbed 6.6% in the year through March, according to new federal data, the fastest pace of inflation since 1982.
MADISON, Wis.–Credit union loan balances rose 1.1% in February, faster than the 0.2% reported in February 2021, even as membership growth slowed significantly during the first two months of 2022, according to data released as part of CUNA Mutual’s April Trends Report.