In Other News

The Federal Reserve Releases the May 2022 Financial Stability Report

The Fed’s Board of Governors released the May 2022 Financial Stability Report, which presents key insights into the state of the American economy. What did the Federal Reserve’s latest decisive...

Decline in Customer Satisfaction Continues but at a Slower Pace, ACSI Data Show

May 10, 2022 — Customer satisfaction in the U.S. is now at its lowest level in 17 years, sliding 0.1% to a score of 73.2 (out of 100) in the...

Filene Issues Report on Climate Change

The Changing Climate for Credit Unions Climate change is one of the most important—if not the most important—challenges of the twenty-first century. Transformational change is necessary to confront and adapt...

Apple Pumps $25 Million Into Credit Unions & MDIs

The tech giant is working with fintech CNote to help underserved communities. The multinational technology company Apple, maybe best known for the iPhone, announced Thursday that it is working with...

Senators Demand Answers from Fidelity Over Plan to Allow Bitcoin As Part of 401(k) Accounts

Two senators are raising concerns following an announcement by Fidelity that it will allow customers to allocate bitcoin to their 401(k) retirement accounts. Sen. Elizabeth Warren (D-MA) and Sen. Tina...

Fed Hikes Rates Half-Point as Powell Signals Similar Moves Ahead

Courtesy of Matthew Boesler and Steve Matthews, Bloomberg Interest-rate increase marks largest upward move since 2000 Stocks rally as Powell pushes back on 75 basis-point Fed move The Federal Reserve...

You Can Now Ask Google to Take Your Personal Data Out of Its Search Results

Google is offering a new tool to anyone who doesn’t want their phone number, email or street address and other personal information to be found online: People can ask for...

CFPB Orders Bank of America to Pay $10 Million Penalty for Illegal Garnishments

America’s second-largest bank unlawfully garnished the accounts of thousands of its customers May 04, 2022 – The Consumer Financial Protection Bureau (CFPB) finalized an enforcement action against Bank of America...

Kronos Cyber Attack Sparks Lawsuits Against Employers

Courtesy of Zack Needles, Credit Union Times Like malware and computer viruses themselves, the consequences of cyberbreaches have a way of spreading in unpredictable ways. A recent ransomware attack on...

Filene Info Session – Housing Insecurity: A Pervasive Problem

Housing was once the most common way most families-built wealth in America, but today, it is a primary driver of financial insecurity for millions of people. The problem of housing...

Ballot Proposal Would Cap ‘Predatory’ Interest Rates for Payday Loans

Courtesy of By Samuel J. Robinson, MLive.com A ballot committee is working to put a question on the November ballot that would stop payday lenders from charging “predatory” interest rates...

Crypto: a SWOT Analysis for Credit Unions

Late last month, the Filene Research Institute published a report on “The Path Forward for Crypto: What Credit Unions Need to Know“. Cryptocurrencies offer innovative possibilities but also pose many...