BROOKFIELD, Wis.—Nearly three quarters (74%) of online purchases worldwide are for digital goods and services, according to a new report.
Fresh Today
ARLINGTON, Va.— NAFCU has introduced a white paper that it says charts a path forward for regulatory coordination in order to achieve an even playing field between traditional financial institutions and fintech companies, the trade association said.
MEXICO CITY—Mexicans residing overseas, primarily those working in the U.S., sent $3.27 billion in remittances home in July, a new report shows.
ALEXANDRIA, Va.–NCUA has released its latest Quarterly Map Review for the second quarter of this year, showing Alaska and Idaho again leading the way in asset growth, while New Jersey and Arkansas reported negative numbers.
WASHINGTON–NCUA Board Member Todd Harper addressed two groups here this week with a message that learning from the past but focusing on the future is essential to meeting a period of significant change, especially with warning signs dotting the landscape.
WASHINGTON–In their slow rush to bank cannabis businesses, could credit unions indirectly play a role in deepening the addiction problem in the United States while also actually aiding money laundering? One person believes so.
NEW YORK–Federal prosecutors in Manhattan have opened an investigation into possible lending fraud in the New York City taxi industry, and a number of now-defunct credit unions are expected to be involved.
WASHINGTON—The CFPB has issued three new policies it said are aimed at promoting innovation and facilitate compliance: the No-Action Letter (NAL) Policy, Trial Disclosure Program (TDP) Policy, and a new Compliance Assistance Sandbox (CAS) Policy. As CUToday.info reports separately, the Sandbox proposal is being panned by consumer groups.
WASHINGTON—Calling it a “dangerous Sahara desert,” consumer advocates are criticizing an announcement by the Consumer Financial Protection Bureau that it has finalized policies to give banks, fintech companies and other corporations no-action letters and approvals that will protect companies from enforcement and deem potentially risky new products and services to be in compliance with the law.
WASHINGTON—Credit unions have responded generally positively to comments made during a Senate Banking Committee hearing this week on housing finance reform.