Credit unions representing nearly a quarter of the nation’s members will get a break from reporting home equity line of credit data to federal regulators under a rule change proposed Monday. CFPB Director Richard Cordray said Monday the agency would issue a...
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?
New Warnings of More Ransomware Attacks On the Way
Newly discovered credit card data breaches point out the need to defend against hackers, who have flooded the dark web with personal information and opened the door to more ransomware attacks. Brian Krebs in his KrebsOnSecurity blog reported about a Missouri-based...
Credit Unions Inch Forward on Consumer Loans
Credit unions gained a slightly larger share of consumer lending in May, as their loans for cars and credit cards grew faster than banks, the Federal Reserve reported Monday. Total consumer credit stood at $3.8 trillion on May 31, up 5.8% from a year earlier,...
Senator, OCC Sets Sights to Nullify CFPB Arbitration Rule
A Republican senator said today he will mount an effort to convince Congress to nullify the newly released CFPB’s arbitration rules. "The CFPB has gone rogue again, abusing its power in a particularly harmful way,” said Sen. Tom Cotton (R-Ark.). “The...
Men, Millennials Driving Rise of Fintech
Financial technology is about to go mainstream. That’s according to the EY FinTech Adoption Index, which finds that fintech adoption among consumers has surged globally over the past 18 months—in the U.S. it’s doubled...
Survey: Trump’s Policies Influencing Home Buying, Selling Plans
President Donald Trump’s immigration policies are apparently influencing the home buying and selling plans of Arabs, Asians and Latinos, according to a national survey of more than 3,000 people who bought or sold a home in the last year. The survey also found...