NEW YORK—Goldman Sachs forgave nearly $71 million in mortgage debt over the last several months, as the company works to meet its $1.8-billion consumer relief obligation that is part of the company’s $5-billion settlement reached in April 2016 over toxic mortgage bonds, the settlement’s monitor said in a new report.
Fresh Today
ALEXANDRIA, Va.–The NCUA board announced Thursday that thanks to a “technical change,” it reduced its proposed budget for 2018 by $80,000. The board, in a 2-0 vote, approved the agency’s final 2018 and 2019 budgets.
MADISON, Wis.–Saying the award is a recognition of his 40 years of contributions to credit unions, the National Credit Union Foundation has released a detailed tribute to Chuck Purvis, who has been named a winner of a 2018 Herb Wegner Memorial Award for Outstanding Individual Achievement.
IRVINE, Calif.—As of August 2017, the 0.6% foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was at its lowest point for any month of August since 2006, when it was 0.5%, according to CoreLogic.
JAY, Maine–Two credit unions have named new chief executives. At OTIS Federal Credit Union here, the $161-million CU said that effective Jan. 1, 2018 Kim Turner will lead the organization, succeeding Roland Poirier, who is retiring after 31 years.
NEW YORK—At a time when many are questioning whether digital wallets will ever live up to their expectations, the head of the world's biggest credit card issuer is predicting digital wallets will kill that part of the bank's business.
WASHINGTON -- The House Thursday passed the Republican tax bill, the Tax Cuts and Jobs Act (HR 1), with the credit union tax exemption fully intact.
WASHINGTON—A Southern California-based auto dealership group will pay $1.4 million to settle Federal Trade Commission charges that it violated a 2014 administrative order prohibiting it from misrepresenting how much consumers could pay to finance or lease a vehicle, the FTC reported.
SALT LAKE CITY–Children’s Miracle Network Hospitals has announced the return of the very successful “Vote for Miracles” campaign, which premiered last year to help celebrate the 20th anniversary of the Credit Unions for Kids program.
WASHINGTON—The CFPB and the Federal Reserve Board announced last week the increased exemption thresholds for appraisals for higher-priced mortgage loans and Regulations Z and M in 2018.