LONDON—Escalating concerns over prolonged disruption tied to the Middle East conflict are prompting economists to cut global growth forecasts and warn lenders about rising inflation, weaker consumer demand and growing recession risks that could pressure borrowers and credit quality worldwide.
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WASHINGTON—U.S. banks posted stronger profits in the first quarter as loan growth accelerated and deposits continued climbing, although pressure on net interest margins and rising unrealized securities losses remained key concerns for the industry, according to the FDIC’s latest Quarterly Banking Profile.
WASHINGTON—The Defense Credit Union Council recently sent letters to Pennsylvania House and Senate leaders and New York Senate leaders urging opposition to proposed interchange-fee legislation.
TROY, Mich.— Retail banks have invested heavily in financial advice and support tools designed to create a more personalized customer experience, but many are still struggling to turn those capabilities into sustained customer adoption and engagement, according to the JD Power 2026 U.S. Financial Health Support and Advice Study.
WASHINGTON--Recent America's Credit Unions Regulatory Commentalerts encourage credit unions to submit feedback on several active regulatory proposals, the trade group reminded.
WASHINGTON--The NCUA’s proposed rule to clarify third-party servicing of indirect vehicle loans would provide federal credit unions with needed change and flexibility, offering parity with many state-chartered credit unions, America's Credit Unions asserted.
LEOMINSTER, Mass.—All One Credit Union President and CEO Barbara Mahoney will retire at the end of 2026, concluding a 45-year career in financial services that included more than two decades with the credit union, according to the Worcester Business Journal.
WASHINGTON— Mortgage applications decreased 8.5% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 22.
WASHINGTON--The Defense Credit Union Council Tuesday filed a comment letter in support of NCUA's proposed rulemaking to amend associational common bond requirements for chartering and field of membership.
CHICAGO—An Illinois federal judge has granted final approval to a massive settlement under which Discover Financial Services will pay between $540 million and $1.2 billion to resolve class action claims alleging it improperly classified certain consumer credit cards as commercial accounts, resulting in merchants being charged excessive interchange fees for years, Law360 reported.