WASHINGTON—The Federal Reserve Board has adopted a final rule that identifies benchmark rates based on the Secured Overnight Financing Rate (SOFR) to replace the London Interbank Offered Rate (LIBOR) in certain financial contracts after June 30, 2023.
NEW YORK—The holidays are anything but a jolly time of year for card issuers, as the battle for new cardholders and transactions remains fierce. That includes a new offer from one major issuer, American Express, which is offering a new perk.
DENVER–Considering making a change in 2023? Good news, as more open positions have been added to CUToday.info’s free job board, the Gig, which includes C-suite and other open positions for which CUs are seeking applicants. Among those jobs are two organizations seeking CEOs.
WASHINGTON–The FDIC has some work to do when it comes to Wi-Fi security, according to a new report.
WASHINGTON–The 117th Congress will be heading home after passing the huge omnibus spending package that will keep the federal government operating, with credit unions having gotten some of what they wanted, while other provisions CUs strongly opposed were not included.
WASHINGTON— The Consumer Financial Protection Bureau (CFPB) said it is ordering Wells Fargo Bank to pay more than $2 billion in redress to consumers and a $1.7 billion civil penalty for legal violations across several of its largest product lines.
ALEXANDRIA, Va.–Loan growth was the strongest in two decades among federally insured credit unions in the year ending Sept. 30, according to the latest NCUA Quarterly U.S. Map Review, which also reveals how CUs are performing by state.
WASHINGTON–Credit unions and just about every other interest group in Washington are now left to watch the one last major piece of legislation before Congress for any sign their priorities—or the proposals they oppose—are included.
TROY, Mich. — Bank customers under age 40—particularly those who have the highest levels of education, highest income growth potential and are “arguably the most desirable customer segment in the banking industry”—are leading a trend toward waning customer satisfaction with the nation’s largest banks, according to the J.D. Power 2022 U.S. National Banking Satisfaction Study.
WASHINGTON–Two coalitions of state attorneys general are requesting the Supreme Court review the constitutionality of the CFPB's funding structure, but for “vastly different reasons.”
