COSTA MESA, Calif.— Credit card customers’ expectations for credit cards are evolving, and a new J.D. Power survey suggests many card issuers are failing to keep up.
Fresh Today
ARLINGTON, Va.—Total consumer credit rose 4.7%, at a seasonally-adjusted, annualized rate, in July and is up 5.1% compared to a year ago. Revolving credit, primarily credit cards, rose 6.7% during the month and is up 0.6% compared to July 2020.
OKLAHOMA CITY, Okla.––WEOKIE Credit Union has become the latest to announce a significant reduction in its overdraft fee.
WASHINGTON–The Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has opened the fiscal year 2021 funding round for the Capital Magnet Fund.
WASHINGTON—The Small Business Administration (SBA) has announced additional changes to the regulations governing the COVID economic injury disaster loan (EIDL) program to allow small businesses "greater and more flexible support from the over $150 billion in available COVID EIDL funds."
WASHINGTON–Wells Fargo has been hit with a $250-million fine by regulators for the lack of progress in addressing longstanding issues related to mortgage lending.
FT. WORTH, Texas–Mergers have been announced in Texas and Wisconsin. In the latter deal, many of one CU’s members were already members of the other.
PLANO, Texas–The Cornerstone Credit Union League is offering its member CUs updated guidance in the wake of new laws that allow Texans to carry handguns in public without going through training or having to get a permit.
SAN DIEGO—Glenn Arcaro of Los Angeles has pleaded guilty in federal court for his participation in a “massive conspiracy” involving BitConnect, a cryptocurrency investment scheme that defrauded investors from the United States and abroad of over $2 billion, according to the U.S. Department of Justice.
ALEXANDRIA, Va.–NCUA has announced federally insured, low-income credit unions seeking a Community Development Financial Institution (CDFI) certification can now apply via the agency’s streamlined qualification process through Oct. 15.