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ST. PAUL, Minn.–According to a new study from Commonwealth on the savings habits of Minnesota CU members, prize-linked savings accounts incentivize people to save money for the first time and help change overall savings habits.

WASHINGTON—NAFCU is expressing support for the Consumer Financial Protection Bureau’s notice of proposed rulemaking (NPRM) amending the Truth in Lending Act’s (TILA) escrow requirements for higher priced mortgage loans (HPMLs).

ARLINGTON, Va.— NAFCU said it will host a webinar Sept. 30 will break down how credit unions can utilize the Fed’s new FraudClassifier Model to better defend against fraud. The model was released earlier this year by the Federal Reserve's Fraud Definitions Work Group.

WASHINGTON–The FDIC has launched what it said is its first-ever Academic Challenge, a competition among teams of university and college students to address questions concerning the U.S. banking sector.

COSTA MESA, Calif.—Consumers in their 50s have the highest levels of credit card debt, according to a 2020 study of credit card debt statistics.

As the year waxes to a close, banks and credit unions across the nation turn their attention to impending salary adjustments for the coming new year. 

WASHINGTON—Remittances to several Latin American nations with close migrant ties to the United States declined sharply in the first half of 2020 – especially in April, when much of the U.S. was locked down due to the COVID-19 outbreak, according to a Pew Research Center analysis of data from their national central banks.