While many Republicans are struggling with their proposals to decrease the CFPB’s powers, two lawmakers have a simple solution—abolish the agency. This week, Sen. Ted Cruz (R-Texas) and Rep. John Ratcliffe (R-Texas) introduced a one sentence bill that...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
Mortgage Delinquencies Rise After Historic Low
Homeowners fell at least 60 days behind in their payments at a higher rate in the fourth quarter from a historic low, while those in foreclosure continued to dwindle, the Mortgage Bankers Association reported Wednesday. The seasonally adjusted delinquency rate stood...
Millennials Ruining Parents’ Retirement
If the parents of millennials ever want to retire, they’re going to have to shut off the money spigot for the kids. That’s according to a Money report, which said that the financial support millennials have been getting from their parents can...
Municipal Credit Union Opens FOM to St. John’s Students
Municipal Credit Union has expanded its membership field to include more than 20,000 students at St. John’s University in New York. MCU ($2.5 billion in assets, 411,052 members) made the announcement Feb. 11 along with officials from the university and its...
Oroville Dam Evacuation Order Closes CU Branches
At least six branches have been closed since Monday because of evacuation orders for areas near the precarious Oroville Dam crisis in Northern California. More than 188,000 people evacuated their homes on Sunday because of extensive damage to the dam’s primary...
Trump Won’t Defend CFPB in Court, Groups Argue
Democratic state attorneys general, two members of Congress and consumer groups are renewing their request to help defend the CFPB in court, contending that the Trump Administration is likely to abandon the agency. The groups argue that while the Obama...