WASHINGTON—Total consumer credit rose 7.4%, at a seasonally-adjusted, annualized rate, in March and is up 0.9% versus a year ago. Revolving credit, which is primarily credit cards, rose 7.9% during the month but is down 9% compared to March 2020.
Fresh Today
ARLINGTON, Va.–NASCUS has filed separate comment letters with NCUA addressing both its proposed changes to the CAMEL rating system and to proposed rulemaking on the simplification of risk-based capital requirements (RBC).
COLUMBUS, Ohio–To celebrate Small Business Month, Telhio Credit Union said it is offering a number of special deals to local businesses. It is specifically promoting commercial credit cards, business checking accounts, merchant services and SBA loans.
NEW YORK–Inclusiv has announced plans to host a Virtual Conference in September.
WASHINGTON—Wells Fargo is facing a new probe from the CFPB over how it disclosed and assessed monthly fees on certain consumer bank accounts in 2016, the bank disclosed in a regulatory filing.
SEATTLE–Credit unions that build marketing promotions around Amazon’s massively popular Prime Day need to pay attention–the event is moving to a different day in 2021.
WASHINGTON—A new white paper on how to “get things done and minimize opposition” has been released by the CUNA Compliance & Risk Council.
ATLANTA—Greenlight, a startup that offers debit cards and investing for kids, has raised a $260 million Series D at a valuation of $2.3 billion, nearly doubling the unicorn valuation it received in a $215 million fundraise just last September.
NEW YORK–The international coronavirus pandemic has had little effect on the market values of the world’s leading banks.
NEW YORK—Old payment habits take a long time to change, unless there's a major event––such as a global pandemic. That is evident in the usage case of cash, according to one new analysis.