NASCUS Report: In the News This Week…

Welcome to the NASCUS Report landing page. Our goal is to keep you connected to nationwide news and industry announcements, events, and topics.
Due to the 57th Annual NASCUS State System Summit, we will temporarily pause our August 19th publication and resume on August 26th.

Around the States

Utah's America First CU Accepts Mobile Driver’s Licenses After Successful Pilot; Tennessee CU Expands FOM into North Georgia—Reaching 250,000 Potential New Members; Virginia CU’s Three-Year Bid for Expansion Is Shut Down; Unitus Community CU’s New Facilities Model Supports Remote, Hybrid Employees

News Across the Country

Industry News

BPI: Complex, Sweeping CRA Proposal Would Undercut Law's Mission of Serving Communities; Senators Propose Legislation to Address Digital Asset Reporting Requirements; Cisco Hacked by Ransomware Gang, 2.8GB Allegedly Stolen; Investors Watch for Cracks In U.S. Consumer Loan Market

The Trip Back to Reality Starts: Mortgages, HELOCs, Delinquencies, and Foreclosures

Under the COVID-era forbearance programs, homeowners who fell behind or stopped making payments entered a forbearance program. But with those programs over, mortgage delinquencies started to rise this year from the record lows last year.

Read the Full Article

Regulatory News

Bank Regulators’ Heightened Scrutiny of AI Highlights Third-Party Risk; FTC: Payments Company ‘Trapped’ Small Biz with Hidden Terms, ‘Zombie’ Charges; Survey Seeks Feedback on Plans to Remediate LIBOR Loans Ahead of LIBOR Cessation; CFPB: New Risks Emerge as Line Between Payments and Commerce Blurs

MEMBER BENEFIT: NCUA Summary and FinCEN Summary + Comment Letter

Agency: National Credit Union Administration Joint Policy Statement Summary: Prudent Commercial Real Estate Loan Accommodations and Workouts The NCUA, FDIC, and OCC have published a joint policy statement on Prudent Commercial Real…

CFPB Gets Earful on Limiting Credit Card Late Fees

The Consumer Financial Protection Bureau is taking heat from banks and credit unions over its proposal to limit increases in credit card late fees that would otherwise increase because of…

Equifax May Face Class-Action Suit After Credit-Score Glitch

Plaintiff claims inaccurate score cost her more on auto loan; Company says majority of credit seekers saw no shift in scores August 4, 2022 — Equifax Inc., the second-biggest global…

Things You Should Know

Visit our "Week Ahead" page for a detailed listing of events under the News & Analysis tab at the top.

Aug. 14-17: 57th Annual State Summit

Join the NASCUS team, state regulators, credit union professionals, and topic-specific experts as we share best practices, collaborate on industry issues, and exchange ideas and resources.

Don't Miss Out

Aug. 24: BSA Webinar for Small Credit Unions

The NCUA is hosting a webinar on August 24 to discuss Bank Secrecy Act trends and challenges, and provide credit unions with valuable updates on BSA compliance.

Learn More

Oct 19: North Carolina Executive Forum

Credit union board members, committee members, and management should not miss the North Carolina Executive Forum. We invite you to participate in this acclaimed, annual one-day session.

Learn More

Oct. 25-27: big.bright.minds 2022

At Filene’s signature event – we’re bringing all six of Filene’s Fellows and other leading experts for a culmination of the year’s most actionable research and a clear look into how it can support you in leading your credit union through uncertain times.

Learn More

Research and Resources

Small Business Lending in the United States, 2020

This report captures the lending patterns of banks and other depository institutions in the small business credit market for loans $1 million or less. The Call Report and Community Reinvestment Act (CRA)databases show the changes for small business loans, all commercial loans $1 million or less from banks, and small business loan size subcategories under $100,000 and $100,000 to $1 million. Both these databases cover only a portion of the credit extended to small businesses annually, excluding lending from nonbank institutions such as finance companies and alternative lenders.

Read the Report

Center for Microeconomic Data

The SCE is a nationally representative, Internet-based survey of a rotating panel of approximately 1,300 household heads. Respondents participate in the panel for up to twelve months, with a roughly equal number rotating in and out of the panel each month.

Search the Data

Consumer Scores and Price Discrimination

Most American consumers likely are familiar with credit scores, as every lender in the United States uses them to evaluate credit risk. But the Customer Lifetime Value (CLV) that many firms use to target ads, prices, products, and service levels to individual consumers may be less familiar, or the Affluence Index that ranks households according to their spending power.

NASCUS Report: Keeping you connected to nationwide stories and trends.

NASCUS collects and broadcasts stories from our members and partners across the country. Share your news with us by clicking here.
To subscribe to our weekly newsletter, enter your email in the “subscribe” box below. Don’t forget to follow our social media channels for the most up-to-date news and alerts.

To search past stories, articles, and additional topics, click here for the NASCUS Report Archive.