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BOSTON–The financial markets need to pick up the pace when it comes to migrating away from LIBOR, according to a new report from a Federal Reserve committee.

ARLINGTON, Va.—After a rebound in confidence in the economy and their CU’s performance in January, credit union leaders’ faith in the future dipped last month.

WASHINGTON—Ahead of a House Financial Services Committee hearing to examine the Treasury Department and Federal Reserve's pandemic response, NAFCU’s Brad Thaler called for the extension of several tools and flexibilities to allow credit unions to continue to support their members and communities.

GERMANTOWN, Md.—Saying it is part of its community impact initiatives, SkyPoint Federal Credit Union has introduced a new loan to help immigrant families more easily manage government expenses related to the immigration process.

ARLINGTON, Va.—Existing-home sales fell 6.6% in February to a seasonally-adjusted rate of 6.22 million units, representing a 9.1% increase in sales versus a year ago, but as NAFCU's Curt Long noted, supply is having a detrimental effect on the housing market, especially when it comes to less-expensive homes.

WASHINGTON–The Biden administration has reversed a controversial Trump-era policy that will lead to the cancellation of roughly $1-billion in student debt for borrowers who were defrauded by their colleges, according to numerous reports.

CENTENNIAL, Colo.–Clean Energy Credit Union said it is partnering with Organic Valley, an organic food brand and independent cooperative of organic farmers based in La Farge, Wis., to launch the “Powering the Good Loan Fund.”

WASHINGTON—Ahead of this week’s Senate Small Business Committee hearing with representatives from the Small Business Administration (SBA) to discuss the agency's coronavirus relief programs, NAFCU pushed for lawmakers' support of legislation that would allow credit unions to expand access to credit to small businesses in their communities.

WASHINGTON—New-home sales fell 18.2% in February from January's upwardly revised rate of 948,000 annualized units to 775,000 units during the month. This represents the sharpest month-over-month decline since 2013, noted NAFCU's Curt Long.

WASHINGTON–Two new committees will focus on the impact of climate change on financial stability, according to a Federal Reserve Board governor.