NEW YORK–Higher interest rates are putting a financial squeeze on many consumer finance companies and fintechs which have never been “battle-tested,” according to a new analysis.
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WASHINGTON–While financial exploitation of older people is the frequent focus of warnings and caution, a new FTC report says it’s people under age 60 who are significantly more likely—86%—to report losing money to online shopping scams than older adults.
DENVER–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.
BASINGSTOKE, U.K.–A new study from Juniper Research is projecting the number of instant payment transactions will exceed 376 billion globally by 2027, up from 97 billion in 2022, or a 289% growth rate.
SOUTHLAKE, Texas—Sabre Corporation and Conferma Pay are now working with Mastercard to accelerate the use of virtual cards for business-to-business travel payments.
WASHINGTON—Remittances to low- and middle-income countries (LMICs) withstood global headwinds in 2022, growing an estimated 5% to $626 billion, The World Bank reported.
WASHINGTON—The CFPB has issued a technical amendment to the Home Mortgage Disclosure Act (HMDA) rule to update Regulation C to reflect the closed-end mortgage loan threshold, in accordance with a recent court decision.
WASHINGTON–As widely expected, despite indicators of cooling inflation the Federal Reserve’s Open Market Committee has voted to boost interest rates another 50 basis points, bringing its target range to decided to raise the target range for the federal funds rate to 4.25%--4.50%, and indicated the increases will continue.
NEW YORK–Community banks and credit unions could discontinue offering instant-payment apps like Zelle if required to reimburse consumers who are victimized by scams, according to NAFCU and the Independent Community Bankers of America (ICBA).
WASHINGTON–With the Federal Reserve expected to announce another rate increase today, new data show consumer prices rose last month at the slowest 12-month pace since December 2021, credit union economists are saying.