MADISON, Wis.—Credit union loan balances rose 3.8% in the year ending in July 2024, slower than the 11.4% pace reported in the year ending in July 2023, due to higher interest rates, tight credit union liquidity and strong competition from finance companies, according to TruStage’s newest Trends Report.
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CHICAGO—A new report reveals fraud is costing businesses nearly 7% of their annual revenue, with a growing percentage of the losses driven by synthetic identity lending fraud.
MADISON, Wis.—Membership in the global credit union movement topped 411 million, while assets surpassed $3.7 trillion last year, according to the World Council of Credit Unions’ 2023 Statistical Report.
NEW ORLEANS—America’s Credit Unions has joined several organizations to file an amicus brief with the Fifth Circuit Court of Appeals that supports a challenge to the CFPB’s 2022 update to its Exam Manual.
WARNER ROBINS, Ga.— Former Robins Financial Credit Union President and CEO John S. Ruffin, Sr. has passed.
NOVATO, Calif.—Another car has crashed into a credit union.
ST. PETERSBURG, Fla.–Consumers today prefer credit over debit when it comes to their preferred top-of-wallet payment method, according to Velera’s 2024 Eye on Payments study.
ALEXANDRIA, Va.—The American Bankers Association is asking NCUA to require “greater accountability” from credit unions seeking to acquire banks. The request includes requiring CUs to get membership approval on the buys and disclose the price of the deal.
WASHINGTON — The CFPB and the Justice Department have taken action to end Fairway Independent Mortgage Corporation’s “illegal mortgage lending discrimination against majority-Black neighborhoods” in the greater Birmingham, Ala., area, the CFPB reported.
WASHINGTON—The Defense Credit Union Council (DCUC) is telling NCUA it is concerned over the potential application of Community Reinvestment Act (CRA) provisions to credit unions.