WASHINGTON—Persistent inflation, rising interest rates, and a slowdown of global economic growth are the primary contributing factors to updated expectations that full-year 2022 real GDP will grow at the reduced rate of 1.3%, 0.8% percentage points less than previously predicted, according to Fannie Mae.
Fresh Today
ARLINGTON, Va.—Existing home sales fell 2.4% in April to a seasonally adjusted annualized rate of 5.61 million units, representing a 5.9% decrease in sales compared to last year.
FORT WASHINGTON, Penn.–TruMark Financial Credit Union has named a successor for its retiring CEO, Richard F. Stipa, who has led the credit union for the past 21 years. The $2.8-billion Trumark Financial said it has selected Kelly Botti to lead the organization.
WASHINGTON–The final rule related to funds transfers via the Fed’s FedNow settlement service are set to go into effect in Q1 of 2023 following publication in the Federal Register.
WASHIINGTON–The broad authorities by states to enforce federal consumer financial protections have been affirmed in an interpretive rule issued the Consumer Financial Protection Bureau.
REDMOND, Wash. – BECU will become the presenting partner of the Marymoor Park Concert Series, which takes place annually here. The agreement also includes special benefits for members.
HENDERSON, Nev.–Declaring June as “CU Pride Month,” the organization that serves LGBTQ+ credit union professionals and community said the month will be all about building an inclusive environment within the credit union industr
DELRAY BEACH, Fla.–iTHINK Financial Credit Union said it has begun offering Early Direct Deposit to members, a free service that provides members with access to their paycheck up to one day early.
JACKSON, Miss.–Hope Credit Union said it has entered into a partnership with New Orleans-based Canseco Properties in an expansion deal that will sustain affordable grocery stores with healthy food options and bring jobs to underserved communities.
NEW YORK–Inclusiv/Mortgage, a unit of Inclusiv, said it is expanding in several areas, including higher LTV ITIN lending, a third-party origination partnership, and the pilot launch of operations in Puerto Rico.