WASHINGTON--As rising costs continue to strain household budgets nationwide, credit unions’ not-for-profit, member-first model is delivering measurable value for the communities they serve. From lower loan rates to fewer fees, credit unions consistently help members do more with every dollar, America's Credit Unions reminded.
Fresh Today
WASHINGTON—America’s Credit Unions is supporting NCUA’s proposed modernization of its records preservation rule, saying the changes would clarify that the regulation is focused on vital records needed to restore member services after a catastrophic event—not on creating a broader record-retention mandate.
ROCHESTER, N.Y.—A Rochester man has pleaded guilty in a sprawling fraud case that prosecutors said involved moving hundreds of thousands of dollars in stolen credit-card funds through accounts at Evolve Federal Credit Union before converting the money into Bitcoin, according to WHEC.com.
WASHINGTON—Banks tightened lending standards for business loans in the first quarter while demand remained largely flat, according to the latest Federal Reserve Senior Loan Officer Opinion Survey, a snapshot that points to continued caution among lenders amid economic uncertainty.
NASHVILLE, Tenn.— Tennessee has become the second state in the country to ban cryptocurrency ATMs, after Gov. Bill Lee signed legislation this month outlawing convertible virtual currency kiosks amid growing concern they are being used to facilitate fraud and scams, according to The Tennessean.
CHICAGO—America’s Credit Unions said Monday the Seventh Circuit’s decision to vacate and remand the Illinois Interchange Fee Prohibition Act (IFPA) case back to U.S. District Judge Virginia Kendall gives financial institutions another opportunity to argue the controversial state law is preempted by federal law following recent actions by the Office of the Comptroller of the Currency.
WASHINGTON—The Treasury Department’s Financial Crimes Enforcement Network issued a new alert warning financial institutions that Iran’s Islamic Revolutionary Guard Corps is increasingly using front companies, financial facilitators and digital-asset infrastructure—including stablecoins—to evade sanctions, launder funds and support terrorist and weapons procurement activities.
WASHINGTON — John Crews has been nominated by the Trump Administration to serve as chairman of the NCUA, marking a major leadership transition as the agency continues to operate with only one sitting board member amid ongoing vacancies.
WASHINGTON—Credit union trade groups said Monday Congress is entering a pivotal stretch for digital assets legislation and other financial services policy initiatives, with both America’s Credit Unions and the Defense Credit Union Council intensifying efforts to ensure credit unions receive equal treatment with banks as lawmakers advance the CLARITY Act and related measures.
ALEXANDRIA, Va.--The Defense Credit Union Council Monday filed a comment letter with NCUA supporting the recent proposal to simplify and modernize regulations governing records preservation programs.