NEW YORK—Synthetic identity fraudsters are primarily targeting the auto industry, leading to a 98% increase in attempts and a “staggering” $7.9 billion in losses for the industry in 2023, a new study reveals.
Fresh Today
WASHINGTON–CUToday.info has learned Sen. Elizabeth Warren (D-MA) intends to propose legislation aimed at making housing more affordable and ending housing discrimination, with provisions that would also add a host of new Community Reinvestment Act-like rules for certain federal credit unions, including around mergers.
WASHINGTON–The nation’s 4,568 FDIC-insured banks and savings institutions reported aggregate net income of $64.2 billion in first quarter 2024, an increase of $28.4 billion (79.5%) from the prior quarter, according to new data, which also show some “material deterioration” in banks’ credit card and commercial real estate portfolios.
NEW YORK—A growing number of Americans are maxed out on their credit cards, new data show.
FORT WORTH, Texas–A lawsuit challenging the CFPB’s cap on credit card late fees may want to sign up for an airline miles credit card of its own, as it’s on the move again.
WASHINGTON—Best Buy/Geek Squad, Amazon, and PayPal are the companies scammers most often impersonate, according to new data from the Federal Trade Commission.
WASHINGTON—A change to the Customer Identification Program (CIP) rule to allow the partial collection of a social security number (SSN) for identity verification purposes is being opposed by America’s Credit Unions.
LAS VEGAS—The $1.4 billion One Nevada Credit Union here has signed with Seattle-based Strum Platform to use the company’s Customer Data Platform (CDP).
HARRISBURG, Penn.–Vizo Financial Corporate CU said it will again be hosting its annual hot dog eating contest this summer as a means of raising money, awareness and support for Penn State Health Children’s Hospital.
ZAGREB, Croatia–A delegation of Ukrainian credit union professionals participated in a study tour hosted by the Croatian Association of Credit Unions and led by USAID/World Council of Credit Unions’ (WOCCU) Credit for Agriculture Producers (CAP) Project.