Consumer lending

A proposal to define wages-on-demand would protect consumers and serve as an example for others.

Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in equity funding.

Congress is in session, but actions at NCUA, FASB and more will dominate the upcoming week in Washington for credit unions.

The vote Friday was a victory for consumer advocacy groups that have been pushing for years to rein in lenders that charge triple-digit rates.

The CEOs of Sallie Mae and Discover Financial Services were largely dismissive this week of the threat posed by the two Democratic presidential candidates, though their optimism seemed to be rooted in an assumption that the more sweeping proposals will never become law.

Credit unions have traditionally struggled to access analytics due to limited resources but that is now beginning to change thanks to recent advances.

A proposal to define wages-on-demand would protect consumers and serve as an example for others.

At the median, credit unions saw growth slacken in several key areas during the year ending at June 30.

In an interview with Credit Union Journal, Todd Harper, NCUA board member, said the regulator was working to avert similar problems in the future.

The chairman of the National Credit Union Administration gave CU Journal more details on the agency’s forthcoming rule providing guidance for credit unions purchasing banks.