MADISON, Wis.—The current rate environment, for a change, may actually be favoring small CUs, data from TruStage’s latest Trends Report show.
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WASHINGTON—Is the fact that most fintechs are not supervised to the same level as banks and credit unions the Achilles’ heel of open banking?
WASHINGTON—As the CFPB pushes through a new rule on open banking before the year ends, analysts see the regulation as additional compliance burden for FIs, and perhaps a bigger problem for large banks, which also have more accounts to lose with consumers having greater ability to shift from institution to institution.
WASHINGTON—The new CFPB circular on “phantom” overdraft opt-in agreements should grab the attention of credit unions of all sizes, says Brandy Bruyere, who notes that while the guidance only applies to FIs above $10 billion, the rules may eventually find their way down to CUs of all sizes via NCUA.
LAKE FOREST, Ill.—The nation is experiencing an economic period that’s testing the deposit pricing skills of even the most accomplished CFOs, one economic research firm is saying.
PLYMOUTH, Mich.—Recognizing credit unions have been facing a growing wave of negative press, a group of CUs have banded together to promote the CU advantage “loudly” in their markets.
WATERLOO, Iowa—As International Credit Union (ICU) Day arrives, CUs across the nation have been busy all week holding events, handing out cash, volunteering—and simply spreading the word about the benefits of cooperatives.
PLANO TEXAS—Later this year credit unions will recognize “their true balance sheet size” as market volatility begins to shake out, says one economist.
LAKE FOREST, Ill.—Are credit unions using money supply to determine deposit pricing?
PHILADELPHIA—The Justice Department has reached a settlement with Citadel Federal Credit Union, which has agreed to pay over $6.5 million to resolve allegations it engaged in a pattern or practice of lending discrimination by redlining predominantly Black and Hispanic neighborhoods in and around Philadelphia, DoJ announced.