ARLINGTON, Va.—Total retail sales increased 1.6% in March and the positive data indicate the economy will rebound in the second quarter, according to NAFCU Research Assistant Dhruv Singh.
ARLINGTON, Va.—Despite rebounding economic data, NAFCU’s Credit Union Sentiment Index (CUSI) fell for the third straight month in April, as three of its four components declined from the previous month. The sharpest decrease was in the lending score, which fell to the lowest level in its nearly two-year history.
WASHINGTON—The Federal Reserve is holding a webinar Tuesday on synthetic identity payments fraud, after reporting a similar webinar in the Fall of 2018 was “standing room only.” It has now expanded the event to one hour.
WASHINGTON—The percentage of small businesses with employees applying for financing from credit unions was flat, according to the latest Small Business Credit Survey — a joint effort by the 12 regional Federal Reserve Banks.
SAN DIEGO–An Underground Collision meeting was held here that for the first time focused on CU business partners and, specifically, CUSOs. According to Mitchell Stankovic, which organizes and hosts the Underground Collision discussions, the meeting walked the fine line between challenges and opportunities for CUSOs and credit unions.
WASHINGTON—A bipartisan group of legislators from the House of Representatives has sent a letter to the Internal Revenue Service asking the agency to update its half-a-decade-old cryptocurrency-related guidelines.
WASHINGTON–NCUA’s new chairman, Rodney Hood, is schedule to testify before the Senate Banking Committee on May 15.
WOBURN, Mass.–Woburn Municipal FCU has announced a name change. Effective May 1, the $44-million CU will be known as Common Trust FCU, and also move to the new tagline, “Familiar Faces Invested in You.”
MEDFORD, N.Y.–It’s Earth Day, and among the credit unions highlighting the steps they’ve taken to be more environmentally sensitive is Suffolk Federal Credit Union.
WASHINGTON – As part of a combined $1.3-billion settlement with the federal government and state governments, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced three separate agreements totaling $611 million with the following UniCredit Group banks: UniCredit Bank AG in Germany, UniCredit Bank Austria AG in Austria, and UniCredit S.p.A. in Italy.