ST. LOUIS–How has the mortgage market changed since the Great Recession of just over a decade ago? And should there be concerns over a new mortgage crash?
Fresh Today
WASHINGTON—Three defendants in a student loan debt relief scheme have been banned from telemarketing and selling debt relief, and ordered to pay millions in resolution of Federal Trade Commission allegations that they deceived consumers by promising to reduce or eliminate consumers’ student loan debt.
NEW YORK–Some of the nation’s biggest banks are telling cardholders affected financially by the COVID-19 outbreak they may be able to help.
ARLINGTON, Va.–Another credit union gathering has been cancelled as a result of risks related COVID 19. NAFCU said it is cancelling its Spring Regulatory School, which had been set for next week in Arlington, Va.
WASHINGTON—The Financial Accounting Standards Board (FASB) met this week to discuss whether it would be appropriate to recognize an insurance recovery asset in conjunction with an insured expected credit loss under the amendments included in its current expected credit loss (CECL) standard. During the meeting, FASB staff indicated they were not currently working on any major substantive issues related to CECL.
CUNA Asks NCUA, CFPB To Implement Policies To Help CUs Better Serve Members During COVID-19 Outbreak
WASHINGTON—CUNA has sent letters to NCUA and the CFPB) asking the agencies to implement policies that would allow credit unions to “better serve members.”
COQUILLE, Ore.—The $1.2-billion First Community CU here intends to purchase three branches from $28.8-billion Umpqua Bank.
ARLINGTON, Va.—On a seasonally-adjusted basis, overall consumer prices increased 0.1% in February, matching January's growth. The Bureau of Labor Statistics reported the overall consumer price index (CPI) grew 2.3% over the 12-month period.
ARLINGTON, Va.—NAFCU, in a letter to the Federal Communications Commission (FCC), reiterated its support for a reassigned numbers database to aid in the elimination of illegal robocalls, but cautioned against certain recommendations that could increase credit unions' costs.
HERNDON, Va.—Nacha issued an Operations Bulletin this week reminding financial institutions of the importance of reviewing their business continuity plans to ensure that they are prepared to maintain ACH payment processing capabilities in the event of possible disruptions.