NEW YORK—By 2029, open banking is projected to surge globally to a staggering $94.14 billion in value. Yet despite its rapid evolution and expanding global footprint, adoption remains uneven—hindered by inconsistent regulatory frameworks across countries.
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VIENNA, Va.— Navy Federal Credit Union will no longer be required to refund $80 million to servicemembers over improperly charged overdraft fees, after the CFPB—under the leadership of the Trump Administration—moved to dismiss the case.
TROY, Mich.—The overall financial health of retail bank customers in the United States declined in May following two consecutive months of improvement as they confront an uncertain economy and persistently high cost of goods, a new report reveals.
NEW YORK—Credit Union lending remains strong overall, especially with increased commercial lending, but there are factors that could create challenges moving forward, Forvis Mazars reports.
WASHINGTON—Senate Banking Committee Republicans are now proposing to slash the CFPB’s funding by nearly 50% as part of their revised contribution to the GOP’s sweeping budget reconciliation bill.
NEW YORK—The electric vehicle revolution, once a runaway narrative in the automotive industry, is now encountering a patch of rough road. General Motors’ quiet retreat from its bold 2035 all-EV pledge—announced this month alongside a $4-billion investment largely focused on gas-powered vehicles—has reignited questions about the future of EVs and what a recalibration could mean for resale values and lenders’ portfolios.
Cyber Sleeper Cells: Why Credit Unions Must Brace For Iran’s Looming Threat To U.S. Financial System
WASHINGTON—As tensions escalate following the U.S. military strike on Iran’s nuclear facilities, financial institutions must prepare for what could be Iran’s most effective and devastating form of retaliation: cyberattacks.
GRAND BLANC, Mich.— Geographic expansion continues to be a major driver behind credit unions’ pursuit of mergers and acquisitions, with buying an established institution often offering a more cost-effective path than growing organically.
SEATTLE—In a period characterized by significant economic and regulatory uncertainty, credit unions cannot afford to be caught “flat-footed,” says Jury & Lass.
CHICAGO—As headlines warn of rising tariffs and costlier goods, more than one in four U.S. consumers—27%—now say they’re pessimistic about their household finances in the year ahead, according to new data from TransUnion.