WASHINGTON—The delinquency rate on credit card loan balances at the 4,788 small commercial banks in the United States spiked during Q1 to 5.9%, according to the Federal Reserve Board of Governors.
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WASHINGTON—The Federal Reserve Beige Book shows that all 12 Fed districts saw economic activity expand at least moderately in April and early May; Dallas was the exception as economic activity sped up to a solid pace.
WASHINGTON—A slight downgrade in the Commerce Department's second estimate for first quarter economic growth was due to "lowered estimates for inventory investment and net exports led to the softer reading for overall growth.”
NEW YORK—Credit card “side perks” are disappearing.
MADISON, Wis.—Credit union loan balances rose over the $1-trillion milestone in March, doubling the $500 billion milestone set back in August 2006, while membership growth continued its torrid pace, according to CUNA Mutual Group’s latest Trends Report.
NEW YORK CITY–The board of the $2.8-billion Municipal Credit Union has voted to begin termination proceedings its former CEO, Kam Wong.
GRAPEVINE, Texas–Perhaps no area of lending is being watched more carefully than auto lending when it comes to potential disruptions to the entire business model, and credit unions here were offered a forecast for what might lie ahead–and when–by CU Direct.
GRAPEVINE, Texas–Lending by credit unions on CU Direct’s loan platforms is up 20% to date in 2018, and the company is preparing to roll out several other initiatives, including a mortgage platform.
GRAVEVINE, Texas–Credit unions should enjoy the next 15-18 months but also be preparing for a recession in 2020, according to one economist.
GRAPEVINE, Texas–Forget your products and services–they don’t matter to members any longer–it’s all about “love and hate.”