Apr 12, 2021 | Banks & Credit Unions, Federal Regulation, News
FDIC Launches Campaign Aimed at Persuading Unbanked to Get Accounts The Federal Deposit Insurance Corporation (FDIC) recently launched a public awareness campaign highlighting the benefits of opening a bank account. The goal of the pilot campaign is to support...
Mar 29, 2021 | Banks & Credit Unions, News
Illinois Caps Consumer Loan APRs at 36 Percent Last week, Illinois Governor J.B. Pritzker signed a bill capping annual interest rates on all consumer loans at 36 percent. The Governor’s office said that auto title loans in the state currently carry an average annual...
Mar 26, 2021 | Banks & Credit Unions, News
Fintech Study Predicts Bank Branches Will Be Extinct By 2034 A recent study by fintech company Self Financial (Self) predicted that bank branches could be extinct by 2034 if the current footprint reduction trends persist. The study measures branch numbers between 2000...
Feb 17, 2021 | Banks & Credit Unions, News
Big Banks in U.S. Reduce Lending Many of the biggest U.S. banks continue to reduce how much of their collective balance sheets is allocated towards loans, according to Federal Reserve data. The share of total assets devoted to loans across the country’s 25 largest...
Feb 15, 2021 | Banks & Credit Unions, News
Survey Finds 1.2 Million Borrowers Feared Mortgage Foreclosure in December A recent report from the Research Institute for Housing America (RIHA), backed by the Mortgage Bankers Association (MBA), showed that nearly 1.2 million borrowers feared they would be...
Jan 8, 2021 | Banks & Credit Unions, News
Trade Groups Push to Prioritize Financial Services Workers in COVID Vaccinations In a letter sent to the Centers for Disease Control and Prevention (CDC) earlier this week, the National Association of Federally-Insured Credit Unions (NAFCU) called for credit union and...
