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November

28
2023
Industry News

NCUA Reinstates Civil Money Penalties for Late Call Report Filing

ALEXANDRIA, Va. (Nov. 28, 2023) – The National Credit Union Administration today announced that it will reinstate assessing civil money penalties for credit unions failing to submit NCUA Form 5300 Call Report on time, effective January 1, 2024.

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November

28
2023
Strategy

More Americans are expected to 'buy now, pay later' for the holidays. Analysts see a growing risk

NEW YORK (AP) — Consumers are expected to use “buy now, pay later” payment plans heavily this holiday season, a forecast that bodes well for retailers but that has credit experts again sounding alarm bells.

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November

28
2023
Industry News

AG Campbell Announces $8.75 Million Settlement With Rent-A-Center For Alleged Pattern Of Abusive Misconduct Targeting Low-Income Communities

BOSTON — Attorney General Andrea Joy Campbell has announced a $8.75 million settlement, via an assurance of discontinuance (AOD), with Rent-A-Center (RAC), to resolve allegations that the company engaged in a pattern of unfair and deceptive business practices against consumers in violation of state consumer protection laws.

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November

28
2023
Industry News

Do It Right' with AI: Ally creators experiment with generative AI in marketing test case

CHARLOTTE, N.C., Nov. 16, 2023 /PRNewswire/ -- Ally Financial Inc. (NYSE: ALLY) announced today the early results of an experimental generative AI use case with its marketing team designed to help understand the real-world impact the technology could have on campaign development and employee productivity. Using the Ally.ai platform's large language model (LLM) chat and prompt functionality, a select group of marketers were able to reduce the time needed to produce creative campaigns and content by up to 2-3 weeks and reported an average time savings of 34%, compared to typical processes without AI.

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November

28
2023
Trends

Economy Expected to Slow in 2024, Rebound in 2025

WASHINGTON, DC – Economic growth remains likely to decelerate and ultimately result in a mild recession in 2024, followed by a return to growth in 2025, according to the November 2023 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group.

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