The Bureau of Labor and Statistics (BLS) released February’s consumer price index report Tuesday, noting inflation currently sits at 3.2%. “Inflation increased in February higher than expected, reversing the encouraging easing trend observed in the last quarter of the previous year,” said America’s Credit Unions Dawit Kebede. “Both headline and core prices showed a monthly …
Inflation report continues to be hotter than expected Read More »
Total assets at federally insured credit unions rose $88 billion, or 4.1%, to $2.26 trillion over the year ending in the fourth quarter of 2023, according to NCUA’s latest financial performance data. Insured shares and deposits grew $37 billion, or 2.2%, to $1.72 trillion. The delinquency rate at federally insured credit unions was 83 basis …
Credit union assets, delinquencies grow in Q4 2023 Read More »
If you’re an avid watcher of the Consumer Financial Protection Bureau (CFPB or bureau) like I am, then you’ve no doubt been paying close attention to the bureau’s war on fees. As we’ve blogged about previously, the CFPB has been targeting nearly every type of fee – from overdraft and non-sufficient funds fees, to paper …
Credit unions support legislative solutions to improve access to housing and reduce gaps in homeownership rates, America’s Credit Unions President/CEO Jim Nussle wrote to the Senate Banking Committee ahead of its hearing on housing affordability. Credit unions believe in supporting their members and their communities by creating products and services designed to suit member needs, …
Credit unions look to increase housing access, reduce ownership gaps Read More »
The CFPB released a blog post Friday outlining their belief that home closing costs include some “junk fees,” under the bureau’s definition, and are too much of a burden for mortgage borrowers who are already taking on a huge financial undertaking. The CFPB cites the “median amount paid by borrowers was nearly $6,000” in …
CFPB mischaracterizes home closing costs as ‘junk fees’ Read More »
President Joe Biden’s budget request for fiscal year 2025 contains $325 million for the Treasury’s Community Development Financial Institutions (CDFI) Fund, an increase of $1 million from the 2023 level. Credit unions are 516 of the 1,460 certified CDFIs nationwide—the largest proportion by financial institution type. Certified CDFIs can apply for awards and grants through …
Biden budget proposal requests $325M for CDFI Fund, $4M for CDRLF Read More »
America’s Credit Unions supports a lawsuit filed last week by the U.S. Chamber of Commerce and other financial groups seeking a preliminary injunction to stop implementation of the CFPB’s credit card fee late rule. The CFPB finalized the rule last week, with America’s Credit Unions President/CEO Jim Nussle saying the rule will dismantle consumers protections …
Lawsuit challenges CFPB’s credit card late fee final rule Read More »
