SAN FRANCISCO—A new report reveals that consumers are spending much less on their primary credit cards, and that the increasing use of buy now, pay later (BNPL) could be one reason.
Fresh Today
JACKSONVILLE, Fla.—FIS has announced it is launching a CBDC Virtual Lab, which it said is intended to help central banks to launch central bank digital currencies (CBDC).
LONDON—Faster payments volume in the U.K. during 2021 climbed by 23% (3.6 billion transactions) over 2020, a new report shows.
WASHINGTON–A new report from the Joint Economic Committee Democrats says people of color and low-income communities continue to be disproportionately harmed by banking and financial exclusion, and among its recommended remedies is expanded postal banking.
ST. LOUIS–The majority of homebuyers over the past few years said they were forced to make compromises in both their purchases and their financing when it came to finding their dream homes, according to a new survey.
NEW YORK–As consumers face higher prices, more people are getting into financial trouble for using buy now, pay later (BNPL) financing for everyday purchases, especially groceries.
WASHINGTON—NAFCU told the Fed it supports for implementation of the Adjustable Interest Rate (LIBOR) Act, but it also wants the Fed to be aware of “the impacts that complex or costly regulations will have on credit unions.”
TYSONS, Va.–PenFed Credit Union is reporting it has closed itsinaugural prime auto loan securitization offering PenFed Auto Receivables Owner Trust 2022-A (PAROT 2022-A). The transaction issued $460,292,000 of fixed-rate, amortizing asset-backed notes backed by prime auto loans, according to the credit union.
WASHINGTON—CUCollaborate said it will host a free webinar Sept. 13 to present the findings from research on credit union board composition and its impact on institutional performance.
EAU CLAIRE, Wis. – Royal Credit Union (Royal) said its partial acquisition of Lake Area Bank in Minnesota is complete. The acquisition includes retail offices in Hugo, Stillwater and White Bear Lake, as well as Lake Area Mortgage in Arden Hills, Minn.