SEATAC, Wash.-- As historic flooding inundates western Washington, more than 100,000 residents have been displaced and evacuation orders now span multiple river valleys, placing many credit unions—along with their employees and members—directly in harm’s way.
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WASHINGTON—Senate Banking Committee Democrats are pressing Chairman Tim Scott (R-SC) to convene an oversight hearing with the nation’s top banking and credit-union regulators before year’s end, warning that recent deregulatory moves could undermine financial stability.
TAMPA—USF Credit Union helped Hillsborough County identify an estimated $6 million in taxpayer savings after a team of its employees reviewed the county’s banking services agreement using secure AI tools paired with extensive human oversight, Laker/Lutz News reported.
LAWRENCEVILLE, Ga.—Used vehicle values took a big dip in November, Black Book reported.
PITTSFIELD, Mass. — Greylock Federal Credit Union here plans to expand into Franklin County through a proposed merger with Franklin First FCU, a move that would add 7,400 members and $84 million in assets and create a $1.7-billion institution serving Western Massachusetts, The Berkshire Eagle reported.
NEW YORK—Cryptocurrency investors are facing a new frontline of risk as criminals shift their focus from large exchanges to everyday wallet holders, triggering a surge in targeted, sophisticated attacks that blend social engineering with mobile-device exploits.
WASHINGTON—President Trump on Thursday moved to rein in state-level oversight of artificial intelligence, signing an executive order that sets up a federal task force to challenge state AI laws the Administration says could slow innovation and undermine U.S. competitiveness with China, the Associated Press reported.
WASHINGTON--Credit unions are pushing back against proposals that would bar the Federal Reserve from paying interest on deposits held at Reserve Banks, with America’s Credit Unions warning such a move would undermine depository institutions. In a letter sent ahead of a Senate Homeland Security and Government Affairs Committee hearing on oversight of the Fed’s interest on reserve balances (IORB), ACU Senior Vice President of Advocacy Greg Mesack outlined the industry’s opposition.
WASHINGTON--It is critical credit unions are included in any potential bank capital relief and reforms, and Congress must encourage the NCUA to match any capital relief from banking regulators. America’s Credit Unions outlined why this is necessary in a letter sent ahead of a House Financial Services subcommittee hearing on banks’ capital framework.
WASHINGTON--The end of U.S. penny production is bringing unexpected challenges for credit unions, America's Credit Unions noted.