WASHINGTON–Eleven people have been charged in a civil complaint filed by the SEC for allegedly creating and promoting a fraudulent crypto-focused pyramid scheme that raised more than $300 million from investors.
Fresh Today
ALEXANDRIA, Va.–CUToday.info’s latest review of disclosure documents filed by credit unions seeking to merge finds many of the standard reasons cited for seeking to combine (lack of resources, management retirements), but also cases where documents required by NCUA are missing, a wide disparity in plans for distributing capital (one CU said it couldn’t pay out net worth due to payments to three employees), and one case where there was just a blank space left behind the words “reasons merger is in best interests of members.”
MADISON, Wis.–It’s the “big question” on everyone’s mind, according to CUNA Mutual Chief Economist Steve Rick: Is the U.S. economy is in a recession?
WASHINGTON—The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased 2.0 points in July to 62.8, its lowest level since 2011 and well below the all-time high set in 2019, Fannie Mae reported.
WASHINGTON–CUNA and numerous state credit union associations have joined with the American Bankers Association and state bank associations in a letter to Congress urging members to oppose the “deeply flawed” Credit Card Competition Act of 2022.
SPOKANE, Wash.–Credit unions here have entered into a partnership with the Spokane Low Income Housing Consortium as part of an effort to address a waiting list that can be as long as three years to obtain low-income housing.
ARLINGTON, Va.—Total consumer credit “surged” in June, up 10.5%, at a seasonally adjusted, annualized rate and up 7.7% compared to a year ago, according to new federal data.
WASHINGTON—Both CUNA and NAFCU have weighed in on a Treasury request for feedback on the development of digital assets.
CASPER, Wyo. —Two credit unions in the Equality State have announced plans to merge.
ANCHORAGE, Alaska–Credit Union 1 here has named Mark Burgess as its new president and CEO.