WASHINGTON–Acknowledging inflation has exceeded its 2% goal “for some time,” the Federal Reserve has adjourned its December meeting here by leaving rates untouched but also announcing it will continue to reduce its monthly pace of its net asset purchases by $20 billion for Treasury securities and $10 billion for agency mortgage-backed securities.
Fresh Today
NOVI, Mich.–Vibe Credit Union President/CEO Allan Kemp McMorris has announced plans to retire after 31 years leading the organization. McMorris said he plans to step down from the $1.12-billion Vibe CU in the summer of 2022.
ALEXANDRIA, Va. – NCUA has awarded $100,000 in grants to four minority depository institution credit unions to support mentoring programs with larger institutions.
SAN FRANCISCO—A new credit card has been launched for people who want premium perks with or without premium credit scores and reportedly has more than 130,000 people on the waiting list.
PLANO, Texas–Catalyst Corporate said it will host a live, online economic panel discussion, Insights & Outlooks 2022, today at 3 p.m. ET.
WASHINGTON—President Biden has nominated Sandra Thompson to serve a full five-year term as director of the Federal Housing Finance Agency (FHFA).
SIOUX FALLS, S.D.–A CUSO and a hockey team here have issued a joint statement apologizing for an event during which teachers got on their knees on an ice rink and tried to grab dollar bills for their classrooms, video of which went viral and drew criticisms and was mocked around the world.
ALEXANDRIA, Va.–More than half of all federally insured credit unions had fewer members at the end of the third quarter of 2021 than they had one year earlier, most of which were smaller CUs.
WASHINGTON–The Washington Post editorial board is calling for regulators to take a new approach to do the “right thing” and act on overdraft fees, saying waiting on banks and credit unions to do the right thing will take too long.
WASHINGTON—Eighty-four credit unions have in total received more than $2 billion in long-term secondary capital loans from a Treasury Department program.