WASHINGTON—Debt collection continues to top consumer complaints submitted to the CFPB, as it was the most-complained-about financial product or service in the Bureau’s November complaint snapshot.
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WASHINGTON—U.S. noncash payments totaled more than 144 billion with a value of almost $178 trillion in 2015, up almost 21 billion payments or about $17 trillion since 2012, according to the 2016 Federal Reserve Payments Study.
CHICAGO—A new study shows that financial services firms are increasingly leveraging artificial intelligence (AI) to help them become more efficient and compete.
ST. PAUL, Minn.–A new online video portal that showcases Ramsey County, Minn. as well as Affinity Plus FCU member stories and other community businesses, has gone live on the county’s website.
WASHINGTON—The inclusion of NCUA’s new member business lending rules on a congressman’s plans for rules to be “revoked” was “inadvertent,” according to CUNA and the Carolinas Credit Union League.
WASHINGTON—Republicans in Congress are searching for any transgressions that might have been committed by CFPB Director Richard Cordray in order to give grounds to President-elect Trump to fire him.
MADISON, Wis.—Summit Credit Union here has declared a $1.9-million dividend to more than 46,000 of its members as part of a program it calls “Cash Boomerang.”
MUSKEGO, Wis.–Citing a strong 2016 financial performance, Corporate Central Credit Union is paying its member credit unions a 5.55% dividend on all perpetual contributed capital (PCC) balances for the month of December. The payment is the highest in Corporate Central’s history.
LARKSPUR, Calif.–Financial institutions can no longer count on higher interest rates alone to attract term deposits during times of economic slowdown, which will require changes in the pricing models of deposits and liquidity management, according to a new study.
WASHINGTON—The CFPB’s latest monthly complaint snapshot shows the most common complaint about debt collection has to do with attempts to collect on a debt that the consumer says is not owed.