BOISE, Idaho–The third quarter economic data may “suck,” but credit unions shouldn’t worry—the economy is healthy and getting healthier, according to one economist, who added that while many are watching the Fed, what they should really be doing is “watching rents like a hawk” while keeping the other eye on used car loans.
Fresh Today
SNELLVILLE, Ga.–Calling it a “harmful decision” by NCUA, leaders from the African American Credit Union Coalition, the National Association of Latino Credit Unions and Professionals and Hope Credit Union have sent a letter to the NCUA board stating the 15-year limit made to the term of Emergency Capital Investment Program (ECIP) investments in CUs will “severely impact” Black and Latinx-owned credit unions, as well as their members.
WASHINGTON—As the result of a lawsuit filed by two CUs, credit unions and other financial institutions affected by a 2018 data breach at Toronto-based Hudson’s Bay can use the settlement website to file a claim. Claims must be filed by Feb. 17, 2022.
WASHINGTON—NAFCU has sent a letter to leaders of the House Ways and Means Committee and Senate Finance Committee highlighting the trade association’s opposition to including new IRS reporting requirements for financial institutions in the Build Back Better Act (BBBA).
ST. PETERSBURG, Fla.–With demand for prepaid cards increasing, PSCU said it has launched its newest prepaid digital experience platform, The PSCU My Card Manager.
WOODBURY, Minn.–Ideal Credit Union said it has introduced two new programs it said are designed to help members save.
HARAHAN, La.– OnPath Federal Credit Union is expanding its partnership with CO-OP Financial Services by joining CO-OP ATM network.
GLASTONBURY, Conn.–Payrailz, which offers digital payments solutions to credit unions and banks, said its CUSO, CU Railz, has secured a $5.4 million investment from Curql Fund.
WASHINGTON–The Defense Credit Union Council is reporting is has emerged from its annual staff strategic planning session with a focus on increased advocacy and member value, in addition to modernization of its conferences and growing its communications outreach.
WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) has announced the selection of six teams that will participate in a “tech sprint” it said is designed to explore new technologies and techniques to determine how well community banks, and the banking sector as a whole, can withstand a major disruption of any type.