While credit union mergers and acquisitions (M&A) are relatively uncommon occurrences—in 2020 there were just 136 credit union mergers and just 5 bank acquisitions by credit unions—they are high-dollar agreements with a lot of room for ambiguity and interpretation. When credit unions are being merged and acquired, the terms are…
Megan HornOctober 7, 2021
After a year since COVID struck the U.S., FICO credit scores are up—a lot. For the past decade, the average FICO score has grown at around one point per year. In 2020, despite record unemployment, the average FICO score in the U.S. climbed seven points—from 703 in 2019 to 710…
Megan HornSeptember 8, 2021
The Home Mortgage Disclosure Act (HMDA) requires financial institutions to maintain, report, and publicly disclose loan-level information about mortgages. The reported data: Helps show whether lenders are serving the needs of their communities Is used to inform government decisions and policies Sheds light on potentially discriminatory lending patterns HMDA data…
Megan HornAugust 6, 2021
The National Credit Union Administration (NCUA) released its Q1 2021 data. Here are some key performance indicators: Total loans outstanding increased $49 billion, or 4.4%, over the year ending in the first quarter of 2021 to $1.17 trillion. Total assets rose by $311 billion, or 19%, over the year to…
Megan HornJuly 13, 2021
The auto market has seen drastic shifts since the beginning of the COVID-19 pandemic. The impacts are being seen in auto values and on car lots across the country. There are several factors at play, all converging to shakeup the market. Here’s what’s causing the shift and what it means…
Megan HornJune 11, 2021