Advanced search

MINNEAPOLIS–While buy now, pay later (BNPL) solutions were introduced to help consumers spread out the costs of big purchases, economists and consumer advocates say they see “red flags” now and big “problems” ahead as cash-strapped consumers increasingly use BNPL for everyday purchases, including even their daily coffee.

WASHINGTON—Newly released minutes from the Federal Open Market Committee’s June meeting reveal participants agreed the economic outlook warranted moving to a restrictive stance of policy—raising rates—and further recognized the possibility that an even more rate increases may be needed if inflation can’t be tamed.

NEW YORK– Inclusiv and New Venture Fund have announced a partnership they said is aimed at increasing racial equity and financial inclusion in low-income and communities of color.

WASHINGTON—NCUA has joined with the Federal Reserve, the NCUA, the Office of the Comptroller of Currency, the FDIC and the Financial Crimes Enforcement Network in issuing a joint statement restating their position that banks and credit unions must take a risk-based approach to assessing individual customer/member risk.

NEW YORK–The Trepp CMBS delinquency rate posted a rare uptick in June 2022, according to the company.

WASHINGTON—Cryptocurrencies and other forms of digital payments will not fade away and may threaten credit union deposits, according to CUNA Senior Economist Ligia Vado, whose analysis was released as part of the latest CUNA Economic Update.