WASHINGTON—Americans are known for racking up credit-card debt, but just how much total debt has been accumulated is “shocking,” according to one new analysis.
Fresh Today
WASHINGTON – The Consumer Financial Protection Bureau has penalized Hyundai Capital America for repeatedly providing inaccurate information to nationwide credit reporting companies and failing to take proper measures to address inaccurate information once it was identified between 2016 and 2020, the agency reported.
WASHINGTON–The Office of the Comptroller of the Currency(OCC) said it is now soliciting academic- and policy-focused research on how fintech entities and nonbanks are affecting banking services, including the markets for lending, deposits and payments.
RADCLIFF, Ky.–Abound Credit Union said it will again be partnering with the Omicron Nu Lambda Education Foundation on an effort to “improve the financial future” of Hardin County, Ky., residents.
WASHINGTON—In passing the six-bill appropriations package (H.R. 8294) for fiscal year 2023, the House has set aside $210.33 million for the Financial Crimes Enforcement Network (FinCEN).
NAPERVILLE, Ill.–The Illinois Credit Union League (ICUL) has named the 10 winning credit unions and one league in the “Giving component” of its #ILoveMyCreditUnion social media blitz, which is set for this Friday.
BANGUI, Central African Republic—The Central African Republic (CAR) says it is planning to launch its own national digital currency called Sango Coin.
WASHINGTON–It’s going to be an “incredibly busy week” for credit unions in Washington, according to one person, and that includes action that may be taken on one bill CUs “adamantly oppose.”
WASHINGTON–The Federal Reserve’s Open Market Committee (FOMC) will kick off two days of meetings today and the decision they announce tomorrow will affect everything from the major U.S. markets to credit unions that are seeing strong loan growth to individual credit union members struggling with monthly bills.
WASHINGTON—Credit union loans outstanding increased 2.3% in May, compared to a 1.9% increase in April of 2022 and a 0.8% increase in May of 2021, according to CUNA's latest Monthly Credit Union Estimates.