The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

Dennis Devine will have to navigate a number of issues, including economic strife and a pandemic, as he takes the helm at the $13 billion-asset institution.

Dana Wade, a former OMB official, says a strong capital footing will help the Federal Housing Administration weather an uptick in delinquencies and ensure the mortgage market is viable once the economy recovers.

This isn’t the first time the industry has faced an influx of funds amid a slowdown in lending, but this instance could prove harder to manage than in the past.

The Jacksonville, Fla.-based credit union said it needs the extra staff to handle an influx of member calls and to help with a planned expansion.

CEOs during CUNA Mutual Group's Discovery conference discussed giving workers more time off and taking other steps to keep up employee morale.

The chairman of the National Credit Union Administration spoke candidly about his experiences as a Black man during a panel discussion that touched on issues including race and the pandemic.

The new “adverse market fee” for refinanced mortgages resembles steps the companies took to combat the 2008 mortgage crisis. But critics charge it isn’t necessary and will hurt borrowers’ ability to tap into low rates.

The industry's return on average assets has already dropped substantially and there are predictions that could get even worse. Many institutions will have to deal with elevated provisions for loan losses and expense management to survive.

Chargeback requests have surged since the start of the coronavirus pandemic, as airlines have canceled flights, performers have postponed concerts and supply chain disruptions have delayed the delivery of many goods.

From student-run branches to courses on credit, budgeting and more, one of the industry's longest-running partnerships is being upended as districts across the country move to virtual learning.

Trade groups are still pushing for the industry's priorities, such as temporarily lifting the member business lending cap, as negotiations over the next round of aid continue.

Schools are still figuring out how they will open this fall, with some districts providing online education while others try a hybrid approach of online and in-person instruction. This complicated structure also upends how schools handle fees and payments.

A handful of credit unions have embarked on co-location strategies, sharing branch space with coffee shops and other businesses, but the social distancing era may force some institutions to rethink those plans.

Credit card balances declined most sharply as consumers cut back their spending due to the coronavirus pandemic and associated shutdown orders, the New York Fed said Thursday. But delinquencies also fell across all debt categories, thanks to government and lender relief efforts.

A survey of companies that received funding from the Paycheck Protection Program also showed that respondents on average have cut their payroll costs by more than half.

The agency said property owners can enter into new or modified forbearance plans if they have a hardship due to the coronavirus, but the landlords must agree not to kick out renters solely for nonpayment of rent.

A new report from Access Softek showed at least one in five members are likely to reduce their branch visits once the pandemic ends, though the risk of consumers leaving their credit union entirely may have declined.

Consumers are reluctant to take on additional debt in the wake of the coronavirus, cutting into credit unions' revenue streams. That could spur more institutions to roll out rewards programs to promote debit card usage.

Over 90% of loans from CUs in the Empire State are eligible for forgiveness using the $150,000 threshold.