MADISON, Wis.—Credit union loan balances rose 1.3% in June, faster than the 1.1% pace reported in June 2017, due to faster growth in new-auto loans (2.3% vs 1.2%) and fixed-rate first mortgages (1.5% vs 0.9%), according to CUNA Mutual Group’s August Trends Report.
Fresh Today
AUSTIN, Texas–It’s the most fundamental question in any strategic plan: Will the credit union be here in five years? Ten?
WASHINGTON–Four in 10 Americans are struggling to pay for their basic needs such as groceries or housing, a problem that is confounding even middle-class households, according to a new study.
WASHINGTON–The Office of the Comptroller of the Currency (OCC) is looking for ways to overhaul the Community Reinvestment Act (CRA), a move being welcomed by the banking industry.
JACKSON HEIGHTS, N.Y.--NCUA has granted a federal charter and Share Insurance Fund coverage to Everest Federal Credit Union here.
WASHINGTON—Acknowledging implementation concerns related to the Financial Crimes Enforcement Network's (FinCEN) customer due diligence (CDD) and beneficial ownership provisions, NCUA Chairman J. Mark McWatters said "NCUA examiners have been instructed to accept a credit union’s reasonable and good faith efforts to comply with the new rule throughout 2018."
WASHINGTON–Almost 30 military associations and veterans groups have sent a joint letter to Mick Mulvaney, acting director of the Bureau of Consumer Financial Protection, urging that he not weaken the 2006 Military Lending Act, arguing such a move would leave military members vulnerable to predatory lenders.
WEST SPRINGFIELD, Mass.–West Springfield FCU here said it is merging into Freedom Credit Union in Springfield, Mass.
SEOUL, South Korea—The Blockchain Law Society has launched in South Korea with a clear mandate to create a proper regulatory framework for the blockchain and associated cryptocurrencies.
SAN FRANCISCO—Mobile payment company Square announced it has lowered its chip card read time to just two seconds.