NEW YORK–Approval rates for small business loan applications rose to another post-recession record (27.9%) at banks of $10 billion or more in assets, but hit a record low during September at credit unions, according to one just-released survey.
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ST. LOUIS—At a community banking conference here, Philadelphia Federal Reserve Bank President Patrick Harker said he believes it is "inevitable" that central banks will begin issuing digital currencies.
WASHINGTON—The Treasury Department has proposed a rule intended to smooth the transition away from the London Interbank Offered Rate (LIBOR) by addressing potential tax consequences.
WASHINGTON—The latest back-and-forth between Congress and the Consumer Financial Protection Bureau is further proof that a bipartisan, multi-member commission is needed, CUNA believes.
ALBANY, N.Y.–Alloya Corporate FCU said it is making available below-market liquidity to any credit union offering assistance to striking members of the United Auto Workers union.
HUTCHINSON, Kan.–Retired Heartland Credit Union CEO Garth Strand said he plans to run for the Kansas House of Representatives in 2020.
NEW LONDON, Conn.–A small but growing number of consumers are turning away from credit cards and toward a fintech that allows them to make small retail purchases using installment plans. It’s a trend now dominated by fintechs, but some big financial players are looking to enter the space.
LONDON—New research has found 44% of Americans have been the victim of a data breach, while 37% of Canadians and 38% of British consumers have been affected, according to analysis by PCI Pal.
NEW YORK—About 40-million Americans had a credit card declined in the past year, according to a new report.
MUMBAI, India—Another country is expressing concerns around cryptocurrency.