SAN FRANCISCO–The rapidly growing fintech Chime has been ordered to stop using the word “bank” when describing itself and its services.’
Fresh Today
MADISON, Wis.––The World Council of Credit Unions said it will host a webinar in June titled “Sharing Digitization Strategies Among Credit Unions & Cooperative Banks.”
WASHINGTON–The market indicators that are intended to support the soon-to-be-replaced interest-rate benchmark LIBOR have been announced by a Federal Reserve working group.
TORONTO–It won’t come as a surprise to many in credit unions that due to the lockdowns people across North America have been pouring money into home improvement projects. Now, new research offers additional insights into where at home many CU members have been focused.
WASHINGTON–The nation’s retailers are welcoming a Federal Reserve announcement it plans to clarify what financial institution must pay retailers to decide where to route online debit card transactions for processing the same as they do with in-store debit transactions.
ARLINGTON, Va.–The National Association of State Credit Union Supervisors (NASCUS) has submitted comment letters to NCUA and Financial Crimes Enforcement Network (FinCEN) outlining the potential effects on the state credit union system as it applies to reporting requirements for CUSOs, as well as granting access to a Beneficial Ownership database for state regulators.
WASHINGTON–Mortgage rates, which not long ago were predicted to be in for a slow but moderate increase during 2021, instead fell again last week, the third straight weeks have remained below 3%.
WASHINGTON–The ways in which consumers used payday, title, and pawn loans over periods in 2019 vs. 2020 and the reasons that contribute to why consumers use them have been detailed in a “Data Point” report released by the CFPB.
WASHINGTON—Comments on a number of proposals issued by NCUA and the Consumer Financial Protection Bureau are due in May, beginning today.
LAWRENCEVILLE, Ga.— Used values continue to show record-level value retention, Black Book reports.