ALEXANDRIA, Va.– With the effective date for CECL compliance approaching for most credit unions, the Simplified CECL Tool for credit unions has been updated for December 2022.
Fresh Today
NEW YORK—As the holiday season nears its end, consumers are showing signs that inflation is having a big effect on their household balance sheets, a new report shows.
ALBANY, N.Y.– Broadview FCU said it is donating more than $500,000 to fight hunger and food insecurity throughout the Capital Region, Binghamton, Syracuse, and Buffalo.
SALT LAKE CITY–Mountain America Credit Union has selected the “Instant Home Equity” solution from Blend, saying the goal is to provide members access to a fully digital end-to-end home equity product while also “dramatically” reducing loan application approval times.
MANCHESTER, N.H.— The long-time leader of America’s oldest credit union will be retiring at the end of this year, with a new CEO then taking over. Ronald H. Covey Jr. will retire after 14 years as president and CEO of St. Mary’s Bank, the eighth person to fill that post in the credit union’s 114-year history.
EVANSVILLE, Ind.–Another analysis has found credit unions looking to play a role in educating their members about finances will want to stick with the basics.
WASHINGTON—The CFPB has issued an order against Servicio UniTeller, an international remittance company, for multiple violations of the requirements governing electronic money transfers, including failing to refund customers after the company made money transfer errors.
BOSTON–Driven by vaccination certificates, the need for identity checks in financial services, and the potential of the metaverse, governments across the world “realize the benefits and the importance of digital identity, enabling the technology to take off,” according to a new report from GlobalData.
LONDON—HSBC has been fined €82,000 by Malta’s Financial Intelligence Analysis Unit (FIAU) for violating local anti-money-laundering laws.
MEXICO CITY—Mexican families received a record high of $48.3 billion in remittances from January to October.