WASHINGTON—Ahead of a congressional hearing here, both NAFCU and CUNA made clear they do not support any proposal allowing the Small Business Administration to get into the direct lending business.
Fresh Today
ARLINGTON, Va.—New-home sales fell 8.6% in March to 763,000 annualized units, while February saw an upward revision of 47,000 units. Compared to last year, March sales were 12.6% lower.
WASHINGTON—In what some described as a “fiery” exchange, CFPB Director Rohit Chopra testified before the Senate Banking Committee and took heat from Republican members who criticized the Bureau’s enforcement activity around repeat offenders as well as broad requests for information on new financial technology firms.
GRAND PRARIE, Texas – Texas Trust Credit Union has cut the ribbon on a new branch here. The 4,280-square-foot facility was designed and constructed by and Keeley Construction.
NEW YORK–While its growth has been strong, a new forecast from Moody’s suggests buy now, pay later (BNPL) solutions have “significant growth potential” due to the appeal to both consumers and retailers.
ANTIGO, Wis.—The $2.7-billion CoVantage Credit Union has agreed to purchase the $277-million LincolnWay Community Bank, nearly 300 miles south in New Lennox, Ill.
ALEXANDRIA, Va.–A review by CUToday.info of the 18 latest credit union merger disclosures provided to NCUA finds the usual suspects cited as reasons for the mergers—“more products and services”—but also insights into the payouts some executives are getting (and improved compensation for all employees in one case), which CUs are distributing net worth, which are not for what seem like odd reasons (such as the acquiring CU has more branches), and even one CU that says it can no longer go on due to the loss of its sponsor company’s “benevolence.”
LAKE BUENA VISTA, Fla.–NCUA Board Member Rodney Hood outlined a series of what he called “challenges” to the credit union community in remarks to the NACUSO Network meeting here.
GYDNIA, Poland–The largest credit union in this country is spending considerable time and money in seeking to help the Ukrainian refugees who have come across the border as a result of the war, including assisting with housing and schooling, according to the World Council of Credit Unions (WOCCU).