The Years of ‘Excessive Savings’ are Over, With Forecast Calling for Decline in Deposits in 2024 12/14/2023 07:27 pm MADISON, Wis.–After years of discussion around “excessive savings” held by the average consumer, that talk is now finished, according to TruStage’s chief economist, who is predicting a decline in member savings in 2024.
Arrests Made in Case Involving Fraud That Targeted CUs Using Shared Branches 12/14/2023 08:15 pm ALBANY, N.Y. – Two leaders of a nationwide bank fraud conspiracy have been arrested in connection with a scheme that has targeted credit unions all over the country since at least December 2021, according to authorities.
Here’s What the Results of NCUA’s 2022 Diversity Self-Assessment Reveal 12/14/2023 07:26 pm ALEXANDRIA, Va.—The 2022 Credit Union Diversity Self-Assessment Results Report is now available.
MSUFCU Names 5 Recipients of 'Dreams Take Flight' Scholarships 12/14/2023 09:04 pm EAST LANSING, Mich. — MSU Federal Credit Union (MSUFCU) has announced the first recipients of its Dreams Take Flight scholarships, which are designed to help make flight time more accessible and affordable to area high school juniors and seniors interested in an aviation career.
A Warning for CUs, Members Over Holiday Scams 12/18/2023 07:32 pm CHICAGO—With Christmas almost here, it’s time credit unions pay even closer attention to ecommerce fraud as crooks have been loading their sleighs with stolen dollars at a record pace this holiday season, reports TransUnion. In response, the company is sharing strategies for making the credit union as Grinch-like to criminals as it can possibly be.
UK Government Urged to Implement National Payments Vision 12/18/2023 07:37 pm LONDON—The Future of Payments Review has published a report that calls on the U.K. government to implement a national payments vision and strategy, with the aim of simplifying the landscape over time.
CU Trades Join Other Groups in Supporting ‘Close the Shadow Banking Loophole Act’ 12/18/2023 07:39 pm WASHINGTON—With just two weeks left before they are no longer separate organizations, NAFCU and CUNA have joined with other financial services trade groups in sending a letter of support to the Senate Banking Committee over the Close the Shadow Banking Loophole Act, which seeks to close the industrial loan company (ILC) loophole in current law.
Bill Reintroduced to ‘Rein In’ CFPB When it Comes to UDAAP 12/18/2023 07:38 pm WASHINGTON—Rep. Andy Barr (R-KY) has introduced a bill that CUNA says will “rein-in the Consumer Financial Protection Bureau’s abuse of its authority” to oversee unfair, deceptive, and abusive acts and practices (UDAAP.”
USFFCU Buys Naming Rights to Part of New Football Stadium 12/18/2023 07:37 pm TAMPA, Fla.–A local credit union has bought naming rights to part of a football stadium under construction here.
