ARLINGTON, Va.—Total retail sales surged 5.3% in January after declining 1% in December and 1.3% in November. Of note, the December number was revised down 0.3% percentage points.
Fresh Today
RALEIGH, N.C.–Michael J. Lord, CEO of State Employees Credit Union, the second-largest CU in the world, has announced he will retire effective Aug. 31 with plans to remain in his current role through the transition period to his successor.
ALEXANDRIA, Va. –Registration is now open for a webinar to be co-hosted by NCUA and the Internal Revenue Service on the Earned Income Tax Credit and Volunteer Income Tax Assistance (VITA) programs.
CHICAGO – Consumer credit activity picked up in the final quarter of 2020 as balances increased across most credit products and originations activity rose from the lows observed during the early stages of the COVID-19 pandemic, according to TransUnion’s new Q4 2020 Industry Insights Report.
SAN FRANCISCO–The City by the Bay is the latest to explore the idea of creating a public bank in favor of placing municipal funds in traditional financial institutions—although credit unions would retain their position under any future bank.
WASHINGTON—The Small Business Administration is adjusting payments of principal and interest for its 7(a), 504, and microloan programs after determining that the $3.5 billion appropriated under section 1112 of the CARES Act is insufficient.
WASHINGTON—Ahead of this week’s Senate Banking Committee hearing to discuss the response to the coronavirus pandemic and relief needed to recover from ongoing circumstances, NAFCU sent a letter highlighting tools and flexibilities it said will allow credit unions to continue to support their members and communities.
WASHINGTON—CUNA has sent a comment letter to NCUA expressing support for changes made by the agency to overdraft policies, saying the changes “ensure credit unions can meet evolving needs of their members.”
WASHINGTON–The FDIC has named its first-ever chief innovation officer.
SOMERSET, Mass.– Somerset Federal Credit Union has named a new president/CEO following the retirement of Pamela Mello. The $177-million Somerset FCU has named Joseph Lajoie, formerly executive vice president and chief financial officer at Greenwood Credit Union in Warwick, R.I., to lead the organization.