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WASHINGTON—Americans are known for racking up credit-card debt, but just how much total debt has been accumulated is “shocking,” according to one new analysis.

WASHINGTON – The Consumer Financial Protection Bureau has penalized Hyundai Capital America for repeatedly providing inaccurate information to nationwide credit reporting companies and failing to take proper measures to address inaccurate information once it was identified between 2016 and 2020, the agency reported.

NAPERVILLE, Ill.–The Illinois Credit Union League (ICUL) has named the  10 winning credit unions and one league in the “Giving component” of its #ILoveMyCreditUnion social media blitz, which is set for this Friday.

WASHINGTON—The House should pass remote online notarization and Community Development Financial Institutions (CDFI) improvement legislation, CUNA wrote to House leaders.

ALBUQUERQUE, N.M.—The Credit Union Association of New Mexico and the Defense Credit Union Council (DCUC) have announced a partnership aimed at providing credit union support to veteran and first responder members and staff in the state.

RADCLIFF, Ky.–Abound Credit Union said it will again be partnering with the Omicron Nu Lambda Education Foundation on an effort to “improve the financial future” of Hardin County, Ky., residents.

WASHINGTON—As Congress considers a path for nonbanks to be allowed to issue stablecoins, one Treasury official says there will be no objections from agencies that once recommended issuers be regulated as banks.

WASHINGTON–The Office of the Comptroller of the Currency(OCC) said it is now soliciting academic- and policy-focused research on how fintech entities and nonbanks are affecting banking services, including the markets for lending, deposits and payments.

WASHINGTON—In passing the six-bill appropriations package (H.R. 8294) for fiscal year 2023, the House has set aside $210.33 million for the Financial Crimes Enforcement Network (FinCEN).

AURORA, Colo.–The auto sales and financing markets may be in a state of unprecedented flux, but with the exception of consumers, everyone is winning from manufacturers to dealers to lenders, with the biggest winners right now being credit unions, according to one expert.