ATLANTA—Delinquency rates on store-branded credit cards have reached a seven-year high, possibly signaling broader troubles for household debt down the road.
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SAN MATEO, Calif.—Business owners are leveraging their personal credit in a major way, according to new data from Nav. While consumers carry an average of 2.32 credit cards, small business owners average at 4.78 cards, Nav reported.
WASHINGTON—BCFP Acting Director Mick Mulvaney indicated that the Bureau will maintain its consumer complaints database but that changes will likely be made to make the database consistent with the law.
WASHINGTON—The BCFP is being encouraged to continue meeting with credit unions through its Credit Union Advisory Council (CUAC) and other external engagements in order to allow stakeholders ample opportunity to offer feedback on financial issues and the BCFP's rulemakings.
WASHINGTON—The Office of the Comptroller of the Currency (OCC) reported credit, operational, compliance, and interest rate risks are the key themes for the federal banking system in its Semiannual Risk Perspective for Spring 2018.
AUSTIN, Texas–FirstClose, a provider of technology solutions for mortgage lenders, announced it has been selected by five new credit unions.
ALEXANDRIA, Va.–NCUA will host a webinar forlow-income credit unions interested in applying for Community Development Revolving Loan Fund grants this year.
FLINT, Mich.–Flint Area School Employees Credit Union has changed its name. It is now called Sovita Credit Union, which it said in a statement better reflects its member commitment.
BILOXI, Miss.–State CU associations in Mississippi and Pennsylvania have announced the results of their board elections.
WASHINGTON–While it seems the hackers behind data breaches are never caught and held responsible, courts this week have sentenced two scammers for their crimes.