The State of AML? ‘Everyone is Doing Badly, But Some are Doing Less Badly Than Others’ 05/20/2020 08:02 pm PARIS—Despite decades of action, the world is struggling to make gains in the war against money laundering, according to the head of the agency responsible for setting global anti-money laundering standards.
Ten Largest CUs Show Increases in Loan Loss Provisions 05/20/2020 08:08 pm WASHINGTON—The 10 largest credit unions at the end of 2019 saw in aggregate increases in provisions for loan and lease losses and allowance for loan and lease losses in the first quarter of 2020 compared to a year earlier.
Here’s what TransUnion Has Found in Studying Consumer Financial Status In First 2 Months of Lockdown 05/20/2020 08:11 pm CHICAGO–A new report from TransUnion has found the percentage of accounts entering “financial hardship” status has risen dramatically for credit products such as auto loans, credit cards, mortgages and personal loans.
OCC Releases Final Rule on Community Reinvestment Act; FDIC Says It’s Not Ready 05/20/2020 08:12 pm WASHINGTON—The Office of the Comptroller of the Currency (OCC) has released its final rule it says modernizes the Community Reinvestment Act (CRA), but the FDIC has released a statement saying it isn’t prepared to finalize the proposal at this time.
NAFCU Webinar Addresses Changing Consumer Behavior. CUNA Offering Webinar on Pandemic, Careers, Plus Considerations When Returning to Work 05/20/2020 08:11 pm ARLINGTON, Va.— NAFCU is offering a complimentary webinar next week focused on recent changes in consumer behavior, including the adoption of contactless payment methods and other digital solutions.
3 Canadian Centrals Join With IBM in $100M Deal for New Payments System 05/20/2020 08:22 pm TORONTO–Credit Union Centrals in three Canadian provinces are joining with IBM Canada in a more than $100-million deal for a new payments system designed to meet the growing demand for digital payments.
FinCEN Issues Warning Around Medical Scams FIs Should be Watching 05/20/2020 08:09 pm WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has issued an advisory informing financial institutions of a new trend resulting from the coronavirus pandemic: medical scams.
NCUA Board to Consider 2 Rules at Today’s Meeting 05/20/2020 08:12 pm ALEXANDRIA, Va.—The NCUA board will issue two interim final rules at its open board meeting today—one on overdrafts and another on prompt corrective action.
CU Card Loss Rates to Hit ‘Uncharted Territory,’ Analysis Predicts 05/20/2020 08:13 pm NEW YORK—Credit union credit card loss rates will reach “uncharted territory” and auto loan losses will exceed those incurred during the Great Recession, predicted Moody's Analytics during a recent webinar analyzing the impact of COVID-19 on credit unions.
