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WASHINGTON–During testimony before the Senate Banking Committee NCUA Chairman Rodney Hood offered an update on the state of credit unions and called on Congress to extend beyond year-end a number of provisions put in place as a result of the pandemic.

BROOKFIELD, Wis.—Consumers have adjusted their financial behaviors and preferences during the COVID-19 pandemic, and for many the changes to their payment habits will be permanent, a new study suggests.

SYDNEY, Australia–Credit unions in the United States have been given some hard-earned advice on what’s necessary to protect and preserve the federal tax exemption from a CU in a country where the exemption has been lost.

WASHINGTON–A bill that would remove federal penalties on marijuana and, if signed into law remove a major risk for some credit unions, will receive a vote on the House floor sometime in December, according to Rep. Steny Hoyer (D-MD).  The bill would also clear the records of some people convicted of cannabis-related crimes.

ARLINGTON, Va.—Total consumer credit rose 4.7% in September (seasonally-adjusted, annualized), up 0.4% versus a year ago, a “promising” sign of recovery, according to NAFCU Chief Economist and Vice President of Research Curt Long.

HALIFAX, Nova Scotia–CUA here has opened a new South Park branch designed and built by NewGround. 

WASHINGTON–Lending standards for both businesses and households were tightened by banks during the third quarter, according to the Fed’s October 2020 Senior Loan Officer Opinion Survey on Bank Lending Practices.