WASHINGTON–Total mortgage origination volume is expected to increase to $1.95 trillion in 2024 from the $1.64 trillion expected in 2023, according to a new forecast from the Mortgage Bankers Association (MBA).
Fresh Today
CUNA, NAFCU Join Other Trade Groups in Calling on Bureau to Follow ‘Proper Process’ on Proposed Rule
WASHINGTON—In response to the CFPB’s release of an outline of proposals under consideration for the Bureau’s rulemaking effort related to the Fair Credit Reporting Act (FCRA), NAFCU, CUNA and other trade groups are calling on the Bureau to follow the “proper process and issue an advance notice of proposed rulemaking (ANPR)” before moving forward with a proposed rule.
NEW YORK—New research has found half of U.S. consumers tried using a new payment method in the past year, and 16% switched to a new one.
WASHINGTON—The Federal Reserve has announced pricing, effective Jan. 2, 2024, for payment services Fed banks provide to banks and credit unions, such as the clearing of checks, automated clearing house (ACH) transactions, and wholesale payment and settlement services.
WASHINGTON— The Consumer Financial Protection Bureau and 11 states are reporting Prehired has agreed to provide more than $30 million in relief to student borrowers as the result of making false promises of job placement, trapping students with “income share” loans that violated the law, and resorting to abusive debt collection practices when borrowers could not pay, the agency reported.
MINNEAPOLIS–Even though national banks issue 68% of all consumer credit cards, a quarter of consumers say they would likely choose a credit union or community bank for their next card, according to a new study.
CHICAGO–Great Lakes Credit Union said it has partnered with Leaders Network Financial to open the doors to a temporary branch location in Chicago’s Austin neighborhood.
WETHERSFIELD, Conn.–Dutch Point Credit Union said it has become the first in the state to offer members a new Convertible HELOC, which it said offers cost savings and flexibility in a high-rate environment.
INDIANAPOLIS–Financial Center Credit Union has launched a “Health Savings Hub,” which it is calling a “custom developed platform” crafted to provide employer partners a simplified Health Savings Account (HSA) management experience.
MADISON, Wis.—World Council of Credit Unions (WOCCU) said it has officially added Brazil’s SICOOB, which is one of the largest financial cooperative systems in Latin America, as the first new member added under its revised membership structure.