SEATTLE—As part of its 10th annual People Helping People Awards, BECU granted $525,000 to nonprofits nominated by its membership.
Fresh Today
WASHINGTON—Rep. Blaine Luetkemeyer (R-MO) has introduced the Consumer Information Notification Requirement Act, would amend the Gramm-Leach-Bliley Act (GLBA) to require federal financial regulators to set forth rules requiring financial institutions to notify consumers of breaches. Luetkemeyer said the objective is to better protect consumers’ financial information.
WASHINGTON–With the current session of Congress nearly over, the Merchants Payments Coalition is keeping up its pressure in support of the Credit Card Competition Act, issuing statements and backing advertising that alleges rising card “swipe fees” could “potentially cost consumers over $20 billion in higher prices for everything from dreidels to Christmas trees this holiday season.”
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has issued a notice of proposed rulemaking (NPRM) dictating who will be able to access beneficial ownership information under the Corporate Transparency Act (CTA).
BRUSSELS, Belgium—A worldwide three-month action involving law enforcement from 25 countries has confiscated more than $18.39 million from “money mules” and nearly 2,500 suspects have been arrested, according to the Organized Crime and Corruption Reporting Project.
NEW DELHI, India—India is on course to maintain its position as the top recipient of remittances, with migrant workers on track to send home a record amount of money this year, a new report shows.
CHICAGO–A new forecast for 2023 from TransUnion is predicting that after two years of aggressive loan growth, particularly for credit cards and personal loans, and serious delinquency rates that generally remained near pre-pandemic levels, the consumer credit market will experience more pronounced changes.
ST. PETERSBURG, Fla.– In November, consumer purchasing growth for debit finished in the low single digits, while deflating credit card growth rates posted the smallest year-over-year growth rates of 2022, according to the December edition of the PSCU Payments Index.
BEAVERCREEK, Ohio–Four more credit unions have announced year-end bonuses and patronage dividends totaling nearly $50 million in total.
GRAND RAPIDS, Mich.–Employees at a branch of Lake Michigan Credit Unionhere are seeking a vote for union representation.