Current Industry News

Credit Union Loan Account Balances Rising; Fewer Members Making Payments Above Monthly Minimums

CHICAGO, June 01, 2023 (GLOBE NEWSWIRE) — The newly released Q2 Credit Union Market Perspectives Report from TransUnion (NYSE: TRU) shows that stubbornly-high inflation continues to put pressure on the monthly budgets of consumers, credit union members among them. This has led to increasing reliance on credit cards and personal loans as borrowers seek ways to make ends meet.

Auto loan delinquencies for young Americans at highest level since 2009

More young Americans are late paying their car loans – approaching levels not seen since the Great Recession, according to a report from the New York Fed.

House Education Subcommittee Examines Federal Student Loan Policies

The hearing was held as part of ongoing student loan discussions in D.C. and as the industry awaits a U.S. Supreme Court decision on two cases on student loan forgiveness.

Colorado Approves DIDMCA Opt-Out, Raising Concerns for Consumer Credit Access

Earlier this month, the Colorado legislature voted to approve HB23-1229, which would opt the State out of Section 521 of the Depository Institutions Deregulation and Monetary Control Act of 1980 (“DIDMCA”), a federal law enacted to create competitive equality between state-chartered banks and national banks.

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