NEW YORK CITY–A number of new bills have been introduced in this city aimed at helping to mitigate the debt crisis being faced by New York City taxi drivers who borrowed hundreds of thousands of dollars to pay for taxi medallions.
NORFOLK, Va.–Chartway FCU has entered into a 10-year branding and sponsorship agreement for the 8,400-seat arena that’s part of the Ted Constant convocation center complex at Old Dominion University. Members will also be offered special deals as a result.
NEW YORK—Many payments experts have been lauding the wave of contactless cards hitting the market this year, saying they will pave the way for greater use of digital wallets, but a new study suggests that may be overreach.
ARLINGTON, Va.–NAFCU believes the delay by NCUA in the effective date of its risk-based capital proposal was a good move.
ALBANY, N.Y. – In what this state’s credit unions are calling a “major victory,” the New York State Assembly has passed a bill allowing credit unions access to the state Banking Development Districts Program for the first time, allowing CUs to receive up to $10 million in subsidized public deposits and other benefits.
OSHKOSH, Wis.—Verve, a Credit Union said it plans to acquire South Central Bank NA, a $300-million community bank based in the Chicago area.
MADISON, Wis.–Credit union loan balances and membership growth both slowed during April, with the number of new members joining CUs down significantly. Adjustable-rate mortgages showed surprising growth however, while net charge-offs showed a small decrease.
NEW YORK–Morgan Stanley's Business Conditions Index, which captures “turning points” in the economy, fell by 32 points in June, to a level of 13 from 45 in May.
NEW YORK—More red flags are flying in the credit-card industry after a key gauge of bad debt jumped to the highest level in almost seven years.
WASHINGTON—The latest jobs report – with 75,000 jobs gained in May – reveals inflation-related pressures are minimal, which, combined with other concerns, could force the Fed to cut interest rates, asserts one analyst.