PURCHASE, N.Y.—After years of unsuccessful attempts to enter China’s massive $27 trillion payments market, Mastercard said it has won approval from the People’s Bank of China (PBOC) to begin formal preparation to set up a bank card clearing institution in China.
Fresh Today
ALEXANDRIA, Va.–Less than 18 hours after NCUA announced the sale of its portfolio of taxi medallion loans, all three agency board members attempted to explain why it sold the loans to a group representing New York taxi medallion owners—who have opposed the sale and pushed for a workout plan—as they faced the board at its meeting here.
ALEXANDRIA, Va.–A new analysis finds credit unions on average charge mortgage rates below those of other lenders.
ALEXANDRIA, Va.–The NCUA has board has approved a final interagency policy statement related to the new Current Expected Credit Loss (CECL) accounting standard.
ALEXANDRIA, Va.–The National Credit Union Share Insurance Fund reported net income of $50.5 million during the fourth quarter, bringing total income to $169.7 million for 2019.
ALEXANDRIA, Va.–NCUA is reporting it has sold the majority of its taxi-medallion loan portfolio to Marblegate Asset Management LLC. The agency did not disclose a sales price.
ALEXANDRIA, Va.–A final interagency policy statement related to the new CECL accounting standard and as well as discussion of issues related to allowance for credit losses (ACLs) at credit unions will be on the agenda of the NCUA board when it meets today.
WASHINGTON–Payday loan companies and other high-cost lenders routinely obtain warrants to arrest their customers, according to a new study from the Consumer Federation of America (CFA).
WASHINGTON—NAFCU has responded to an op-ed from the Florida Bankers Association's CEO and a report from the National Taxpayers Union the trade group says “falsely” claims credit unions are the financial institutions misusing the tax code.
ROANOKE, Va. — Freedom First Credit Union said it has received a $5 million secondary capital investment from the new Inclusiv Southern Equity Fund to help fund the Affordable Housing Program. According to Freedom First, its program works with potential homebuyers of modest means to overcome conventional mortgage qualifying hurdles so they have a chance to become a homeowner.