NEW YORK—As the credit card war heats up, Chase continues to up the ante.
Fresh Today
WASHINGTON–The Federal Deposit Insurance Corporation (FDIC) has announced the selection of the eight teams that will participate in a “tech sprint” designed to explore new technologies and techniques to help banks meet the needs of unbanked consumers.
WASHINGTON–Minutes released from the Federal Open Markets Committee’s most recent meeting show the central bank is seeking to find a middle ground between tapering bond purchases while providing assistance to an economy still seeking to recover from the coronavirus lockdowns.
CHARLESTON, S.C.– The first half of 2021 saw a 22% increase in the volume of phishing attacks over the same time period in 2020, but phishing volume in June dipped dramatically for the first time in six months, immediately following a very high-volume in May, according to PhishLabs.
CHICAGO––The financial services industry is “rebounding strongly” from the early impacts of the COVID-19 pandemic, according to TransUnion’s Q2 2021 Quarterly Credit Industry Insights Report (CIIR).
AUSTIN, Texas–Approximately 1.8 million of the Paycheck Protection Program’s 11.8 million loans — more than 15% and totaling $76 billion–had at least one indication of potential fraud, according to a new research paper that suggests fintechs were significant players in those questionable applications.
MCLEAN, Va.–At a total cost of more than $10 million, Pentagon Federal Credit Union has purchased a business jet, saying it will benefit “members and employees through increased safety and productivity.”
WASHINGTON—Total retail sales slid 1.1% in July, following June’s upwardly revised rise. Of note, the May number was also upwardly revised to a drop of 1.4 percentage points.
WASHINGTON—In a letter to the U.S. House of Representatives, NAFCU urged House members to remove a provision from the Senate-passed Fiscal Year (FY) 2022 Budget Resolution proposing that credit unions report to the IRS on annual account inflow and outflow information of American taxpayers.
WASHINGTON—NAFCU has joined with a group of financial trade associations this week to request meetings with both the Treasury and the Federal Housing Finance Agency (FHFA) regarding the amendments to the Preferred Stock Purchase Agreements (PSPAs) for Fannie Mae and Freddie Mac (GSEs) and their affects on the housing market.