NEW YORK—Credit union credit card loss rates will reach “uncharted territory” and auto loan losses will exceed those incurred during the Great Recession, predicted Moody's Analytics during a recent webinar analyzing the impact of COVID-19 on credit unions.
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ALEXANDRIA, Va.—The NCUA board will issue two interim final rules at its open board meeting today—one on overdrafts and another on prompt corrective action.
WASHINGTON—The Office of the Comptroller of the Currency (OCC) has released its final rule it says modernizes the Community Reinvestment Act (CRA), but the FDIC has released a statement saying it isn’t prepared to finalize the proposal at this time.
Here’s what TransUnion Has Found in Studying Consumer Financial Status In First 2 Months of Lockdown
CHICAGO–A new report from TransUnion has found the percentage of accounts entering “financial hardship” status has risen dramatically for credit products such as auto loans, credit cards, mortgages and personal loans.
ARLINGTON, Va.— NAFCU is offering a complimentary webinar next week focused on recent changes in consumer behavior, including the adoption of contactless payment methods and other digital solutions.
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has issued an advisory informing financial institutions of a new trend resulting from the coronavirus pandemic: medical scams.
MILWAUKEE, Wis. – Corporate Central held its 39th annual meeting virtually with the Wisconsin Credit Union League.
WASHINGTON—The 10 largest credit unions at the end of 2019 saw in aggregate increases in provisions for loan and lease losses and allowance for loan and lease losses in the first quarter of 2020 compared to a year earlier.
SIOUX FALLS, S.D.–A new survey offers insights into how the coronavirus pandemic is affecting ATMs around the world, with the organization’s president saying “blatant pseudo-science” claiming cash transmits the virus has hurt volumes.
TORONTO–Credit Union Centrals in three Canadian provinces are joining with IBM Canada in a more than $100-million deal for a new payments system designed to meet the growing demand for digital payments.