WASHINGTON–The nation’s FDIC-insured banks reported a net income increase of 29.1% during the first quarter of this year, primarily due to negative provisions for credit losses reflecting bad loans that never appeared, according to new data.
Fresh Today
ALEXANDRIA, Va.–NCUA said it is “reviewing” an executive order from President Biden that directs federal agencies to launch or expand efforts to analyze and lessen economic risks stemming from climate change.
ARLINGTON, Va.—How big of an impact are climate-related events having on credit unions? So far, according to a new survey, very little, but CU leaders say they are monitoring the risk.
WASHINGTON—Both NAFCU and CUNA shared concerns about changes to credit reporting rules ahead of a House Financial Services subcommittee hearing on consumer credit reporting.
ARLINGTON, Va.—New home sales dipped 5.9% from March's downwardly revised rate of 917,000 annualized units to 863,000 units in April. Sales were up 51.4% versus April 2020, with reports of the tight housing market being reported in nearly all markets in the country.
WASHINGTON—A proposed Federal Reserve regulation could adversely impact credit unions by increasing regulatory burden, CUNA wrote to the Senate Banking, Housing, and Urban Affairs Committee. The committee heard semiannual testimony from Fed Vice Chair for Supervision Randal Quarles during a hearing this week.
RANCHO CUCAMONGA, Calif.—CO-OP Financial Services is reporting Transaction Network Services (TNS) is donating $40,000 to Children’s Miracle Network Hospitals.
WASHINGTON–During a Senate hearing Sen. Elizabeth Warren (D-MA) told Federal Reserve Vice Chairman for Supervision Randal Quarles that she is recommending he be replaced by President Biden when his term ends later this year.
WASHINGTON–The United States must be highly involved as digital payments become more common and other countries develop digital currencies that can be used to send money across borders, especially given that the U.S. is the holder of the world's reserve currency, one Federal Reserve governor is saying.
ALEXANDRIA, Va.– NCUA is cohosting a webinar today that will offer additional information on the Department of the Treasury’s Community Development Financial Institutions Fund’s Small-Dollar Loan Program.