WASHINGTON—The Federal Reserve has issued an enforcement action and fined Metropolitan Commercial Bank, of New York City, approximately $14.5 million for violations of customer identification rules and for deficient third-party risk management practices relating to the bank's issuance of prepaid card accounts, the Fed reported.
Fresh Today
PURCHASE, N.Y.–Coming soon to one credit card company—a signature fragrance.
MADISON, Wis.–Credit union liquidity has dropped to the lowest level since October 2019, and is close to the lowest level in credit union history, according to TruStage’s newest Trends report, which is also projecting net interest margins could tighten, noting member demand for certificates is strong, and that credit unions are increasing provisions in anticipation of growing delinquencies and charge-offs.
NEW YORK–Money has released its list of the Best Credit Unions of 2023-2024, with Virginia-based PenFed named as the nation’s best CU.
SHIVELY, Ky.–A new credit union has been approved for a federal charter and share insurance coverage.
WASHINGTON—NAFCU wrote to the Department of Labor (DOL) on its proposed rulemaking to change the thresholds and methods used to delimit overtime and minimum wage exemptions.
WASHINGTON—There is “language of interest” to be found in a new report on the Federal Housing Finance Agency (FHFA) from the Federal Home Loan Bank (FHLBank) system, according to CUNA.
GREENSBORO, N.C.–Vizo Financial Corporate Credit Union will host a webinar today titled, “Possible or Probable: How to Assess the Risk.”
WASHINGTON–The nation’s banks continue to report tighter underwriting standards coupled with weaker demand for commercial and industrial (C&I) loans to all sizes, according to a new report for Q3 from the Federal Reserve.
WASHINGTON–Mortgage rates saw the biggest one-week drop in over a year last week, causing the first increase in mortgage demand in a month, according to new data.