PURCHASE, N.Y.—Total retail sales—excluding autos—will swell 5% this holiday season, with e-commerce sales jumping 20% over the same period last year, according to the latest Mastercard Spending Pulse report.
THE news
CHICAGO–Credit Union 1 and the University of Illinois at Chicago have reached a deal to give the credit union naming rights to the UIC Pavillion, a 9,500-seat, multi-purpose facility that is home to UIC’s men’s and women’s basketball teams. The $9.3-million agreement is for 15 years and will result in the name being changed to the Credit Union 1 arena.
WASHINGTON—NAFCU has joined ten other trade associations representing servicemembers, foreign service officers, federal employees, Realtors and moving companies in sending a letter to Senate leadership urging them to advance S.998, the Moving Americans' Privacy Protection Act, which would help protect personal information of American servicemembers and foreign service personnel who are moving back into the United States from overseas.
WASHINGTON–Three years after the switch to new chip-based credit and debit cards, a new study released by the National Retail Federation of Retailers and Forrester says payment card fraud remains a top concern for large U.S. retailers as criminals move their activities online.
PARCHMENT, Mich.—$1.7-billion Advia CU here announced it intends to buy $155-million Golden Eagle Community Bank in Woodstock, Ill.
MARLBOUGH, Mass.—The $8.5-billion Digital Federal Credit Union here must face a lawsuit accusing it of charging overdraft fees to thousands of customers based on an artificially low “available balance” when they had ample money in their accounts, a federal judge in Massachusetts has ruled.
LAWRENCEVILLE, Ga.—Don’t expect the recent trend of used vehicle values holding steady or actually increasing to continue, says Black Book.
WASHINGTON—The Bureau of Consumer Financial Protection has updated its small entity compliance guide for the Home Mortgage Disclosure Act (HMDA) to reflect changes in the Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) and the Bureau’s August interpretive rule.
STAMFORD, Conn.—Traditional financial institutions and insurance companies are facing extinction in the next decade due to increased digitization in the financial services sector, asserts a new forecast reveals.
NEW YORK–How soon will truly autonomous vehicles be on the road?