LOMBARD, Ill.—While the auto lending market looks rosier today than it has for a number of years, with new vehicle sales reaching 17.5 million units in 2015, lenders should take steps to prepare for a slowdown.
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WASHINGTON—Federal financial institution regulatory agencies Monday issued guidance clarifying the applicability of the Customer Identification Program (CIP) rule to prepaid cards issued by financial institutions.
LARKSPUR, Calif.—Existing home sales fell 7.1% in February to their lowest level since November of 2015, and single-family homes dropped 7.2%, reflecting economic and financial uncertainty among consumers, reports one analyst.
HAUPPAUGE, N.Y.–CU Xpress Lease, a subsidiary of GrooveCar, and CUNA Mutual Group said they will expand their collaboration into major auto leasing markets in Florida, California, New Jersey, New York, and Massachusetts to help credit unions, auto dealers, and members secure and safeguard more automobile leases.
SAN FRANCISCO—Uber is partnering with GoBank in a pilot to test a new way to pay its drivers faster, and also prevent drivers from turning to payday lenders.
MOLINE, Ill.–Vibrant Credit Union here has completed its conversion to the DNA account processing platform from Fiserv, and also added several integrated solutions from the company.
COLCHESTER, Vt.—The Association of Vermont Credit Unions last week shut down an attempt by Vermont bankers to sweep credit unions into a bank-related piece of legislation.
WASHINGTON—At the request of the CFPB, a federal district court entered a final judgment last week against debt relief company Morgan Drexen, Inc., resolving a lawsuit filed by the CFPB in August 2013.
BRUNSWICK, Maine–The $300-million Atlantic Regional FCU has announced a tweak to its name and will now operate as Atlantic Federal Credit Union.
SCOTTSBLUFF, Neb.–The $3.5-million Panhandle Cooperative FCU here is being absorbed via merger by Meridian Trust FCU.