Blockchain has potential to be technology of the future

With the ever-changing face of technology, one never knows just what will be the next big thing for the financial world. Credit unions should keep blockchain on their radar, says a CUNA blogger, who points out emphatically that this is not Bitcoin, the virtual currency that became infamous for a time. The article explains that […]

CFPB releases lengthy proposal to limit small dollar loans

The CFPB released its new proposed rule on payday and small dollar loans at a field hearing in Kansas City, MO. In a nutshell, the CFPB proposal is complicated, as suggested by the 1,549-page document that aims to limit high-interest loans by predatory lenders. LSCU has learned from NCUA sources that the rule contains two […]

CUNA Mutual Group’s May report points to bright forecast

Credit Unions nationwide are on an upward trend, along with the economy, according to CUNA Mutual Group’s May 2016 Credit Union Trends Report, which tracks March 2016 data. During that month, credit unions picked-up 577,000 in new memberships, and loan and savings balances grew at a 12 percent and 7.6 percent seasonally-adjusted annualized pace, respectively. […]

U.S. consumer spending springs up in April

The latest U.S. consumer spending numbers bode well for the economy, with the Commerce Department reporting its biggest increase in more than six years in April. Consumer spending rose 1.0 percent over March, or $119.2 billion, compared with just a $3.7 billion gain the previous month. Automobile purchases were up, pointing to economic growth that […]

New home sales on the upswing in April

Brand new residential real estate is a hot commodity now, as confirmed when the Commerce Department announced Tuesday that new home sales increased 16.6 percent last month to a seasonally adjusted rate of 619,000, up from a revised total of 531,000 in March. In April, new home purchases were up to the highest level since […]