News
DOJ Closes Powell Probe, Easing One Front In Trump's Fed Fight
1+ hour, 43+ min ago (263+ words) CU Today WASHINGTON" President Trump's escalating clash with Federal Reserve Chair Jerome Powell took a new turn this past week, as the Justice Department moved to close its criminal probe of Powell even as Trump has continued to pressure him…...
Fastest-Growing Bank Loan Category Since 2008? Lending To Nonbanks, FDIC Says
1+ day, 2+ hour ago (278+ words) CU Today WASHINGTON'Bank lending to private equity funds, private credit firms and other nondepository financial institutions climbed to $1. 4 trillion at year-end 2025, making it the fastest-growing loan category for banks since the 2008 financial crisis, according to the FDIC, which said the…...
California Lawmakers Push Direct Fed Access For Nonbanks In New Payments Bill
2+ day, 15+ hour ago (354+ words) CU Today Sam Liccardo WASHINGTON" Two California lawmakers have introduced bipartisan legislation that would create a new federal pathway for nonbank payment companies to tap directly into the Federal Reserve's payment rails, a move backers say could speed transactions and…...
Mortgage Applications Increase In Latest MBA Weekly Survey
2+ day, 22+ hour ago (313+ words) WASHINGTON " Mortgage applications increased 7. 9% from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending April. The refinance share of mortgage activity decreased to 44. 2% of total applications from 45. 5% the previous…...
Warsh Tells Senate He'd Shrink Fed Balance Sheet, Avoid Rate Promises
3+ day, 18+ hour ago (250+ words) CU Today Kevin Warsh WASHINGTON" Kevin Warsh used his Senate Banking Committee confirmation hearing Tuesday to signal a more balance-sheet-focused Federal Reserve"telling senators he would protect the central bank's independence, would not pre-commit to rate cuts and wants "robust…...
Velera Payments Index: Consumers Kept Spending In March, But Signs Of Strain Are Emerging
4+ day, 15+ min ago (362+ words) CU Today TAMPA--Consumer activity remained strong in March, with ongoing growth in debit and credit card transactions and purchases, according to the April edition of the Velera Payments Index. Despite skyrocketing gas prices since the start of the war…...
As Car Prices Stay High, Credit Unions Face A New Threat In "Payment-First" Lease Deals
3+ day, 16+ hour ago (224+ words) CINCINNATI" Auto lenders, including credit unions, should brace for a leasing strategy that may not be going away anytime soon, as automakers increasingly advertise low monthly payments by pairing subsidized lease offers with larger amounts due at signing"a tactic…...
Mythos" Could Change Cybersecurity For Credit Unions Faster Than Many Are Ready For
6+ day, 2+ hour ago (306+ words) In separate reports, Bank Info Security highlighted a common concern: cybersecurity teams are moving into a world where AI can help uncover vulnerabilities and potentially enable attacks at machine speed, while many organizations still patch and respond on human timelines....
Goolsbee Warns Oil Shock Could Delay Fed Rate Cuts Until 2027
1+ week, 3+ day ago (292+ words) CU Today WASHINGTON" The Federal Reserve may have to wait until 2027 to cut interest rates if a prolonged run of high oil prices tied to the Iran war keeps inflation from moving back toward the central bank's 2% target, Chicago Fed…...
Fed Sees Slower Path To 2%, Rising Labor Risks In New FOMC Minutes
2+ week, 2+ day ago (267+ words) CU Today WASHINGTON" Federal Reserve officials signaled in minutes released Wednesday that they remain in no rush to cut rates, with policymakers increasingly worried that inflation could stay elevated longer than expected even as they also see growing downside risks…...