WASHINGTON—Total consumer credit rose 5.2% in April (seasonally-adjusted, annualized) and is up 5.3% versus a year ago. However, NAFCU Chief Economist and Vice President of Research Curt Long said while April revealed upward growth trends, overall growth is expected to decline in coming months.
NEW YORK—More red flags are flying in the credit-card industry after a key gauge of bad debt jumped to the highest level in almost seven years.
WASHINGTON–Americans will carry $70 billion more in credit card debt during 2019 than 2018, according to the latest Credit Card Debt Study from Wallethub, which also lists the U.S. markets with the most and least credit card debt paydowns.
NEW YORK–A new TV news program from the New York Times that is airing on FX and on Hulu highlights all of the problems around taxi medallion loans in one of its first episodes.
WASHINGTON—A bipartisan group of senators has released draft legislation to reform aspects of the Bank Secrecy Act (BSA), specifically targeted at anti-money laundering (AML)-combating the financing of terrorism (CFT) requirements.
SAN FRANCISCO–Efforts to help stabilize the value of taxi medallions–perhaps spurred in part by a lawsuit filed by a credit union–are showing some success here, one report suggests.
WASHINGTON—A top official with the Federal Reserve stated the department would clarify that hemp is a legal crop and that financial institutions are allowed to provide hemp businesses with services without violating the law.
MADISON, Wis.— CUES announced 67 credit union executives have completed its CEO Institute executive education program.
DENVER—A dozen executives from Latin American financial cooperatives are meeting with colleagues from Denver-area credit unions this week to explore ways to improve member access to—and experience with—digital financial services, according to the World Council of Credit Unions.
LANCASTER, Penn.– A former credit union employee has been charged with stealing funds from a family who considered her a friend and with fraudulently using the identity of their one-year-old son, according to police.
