News stories tagged July

GRAPH OF THE WEEK: Credit Card Delinquency Rates Inching Back Up

After a decline in consumer spending during the pandemic, the end of government relief programs has contributed to an increase in credit card usage – and a rise in delinquencies....

Former Coinbase Employee Charged in First-Ever Crypto Insider-Trading Case

Cryptocurrency insider-trading case could have broad ramifications for industry. Federal authorities brought the first-ever cryptocurrency insider-trading case Thursday, accusing a former Coinbase Global Inc. COIN 5.43%▲ manager of tipping off his brother and a friend...

July 21 NCUA Board Meeting Summary

Budget Briefing The NCUA board was briefed on the budget and current operating budget surplus. The surplus is primarily from lower staffing levels and vacancy rates resulting in decreased pay...

Bank of America Puts Aside $200M for Probe into Bankers’ Use of Personal Devices

Bank of America (BAC.N) has set aside around $200 million for a regulatory matter connected to the unauthorized use of personal phones, its chief financial officer Alastair Borthwick said on...

PSCU: Inflation Helps Boost Member Spending in June

The gains in the amount spent far outpace gains in the number of transactions. PSCU reported Tuesday that the value of purchases it handles for affiliated credit unions rose much...

MEMBER BENEFIT: 2022 State System Profile Database Released

As a benefit for all NASCUS members, this digital platform provides a searchable data catalog of state credit union regulatory agencies (structure, funding, examination programs) and key state credit union...

Federal Reserve Officials Warn Entrenched Inflation Poses ‘Significant Risk’

sCourtesy of Colby Smith, Financial Times Minutes from June meeting suggest even tighter monetary policy may be needed from US central bank. Top Federal Reserve officials think entrenched inflation is...

Member Benefit: FinCEN and CFPB Summaries

Financial Crimes Enforcement Network (FinCEN), Treasury ACTION: Advance notice of proposed rulemaking. No-Action Letter Process TOPIC: FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment...

US Expansion for Huobi a Step Closer After It Secures a FinCEN License

It says users in the United States can expect digital asset services to come in the future. A subsidiary of the Huobi cryptocurrency exchange called HBIT Inc has received its...

Member Benefit: CFPB Summary on the Request for Information Regarding Relationship Banking and Customer Service

BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB–2022–0040] Federal Register Posting: Request for Information Regarding Relationship Banking and Customer Service AGENCY: Bureau of Consumer Financial Protection. ACTION: Request for information....

New Report Explores the Impact of Credit Card Line Decreases on Consumers

June 29, 2022 — When credit risk is on the rise, such as during an economic downturn, credit card companies may look at reducing consumers’ available credit limits to prevent...