DALLAS–Inflation at the wholesale level climbed 8.3%, year-over-year in August, the biggest annual gain since the Labor Department started recording the 12-month number in 2010, with one analyst saying he disagrees with the Fed that inflation will soon fade away.
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WASHINGTON—The Biden administration wants to loosen the grip that Visa and Mastercard have on routing debit card payments in online transactions and the billions in interchange fees that come with it, Bloomberg Law reported.
SAINT JOHNS, Mich.–Journey FCU has named a new president and CEO. The $177-million CU said it has selected Jeffrey Kusler to permanently lead the organization after serving as interim CEO for four months.
DUBLIN, Calif. – Patelco Credit Union is reporting it appointed its president and CEO, Erin Mendez, to its board of directors.
MADISON, Wis.–The World Council of Credit Unions said it will host a webinar on Sept. 29 highlighting the international credit union movement’s efforts to encourage the G20 to bring more attention to how cooperative financial institutions can increase financial inclusion across the globe.
ALEXANDRIA, Va. –NCUA has announced federally insured credit unions with both the minority depository institution and low-income designations are eligible to apply for the MDI mentoring grants from the agency between Oct. 11 and Oct. 29.
WILMINGTON, Del.–Coinbase, the largest cryptocurrency exchange in the United States, is stating that federal securities regulators are threatening to sue it over a financial product it is proposing that would let customers earn interest on digital asset deposits.
WASHINGTON—A proposal that would have required credit unions to report deposits/withdrawals of more than $600 to the Internal Revenue Service has been removed from legislation currently before Congress.
WASHINGTON–Rep. Ted Budd (R-NC) told credit unions he continues to advocate for repeal of the Durbin Amendment and is co-sponsoring a number of pieces of legislation aimed at providing assistance to CUs.
WASHINGTON–NCUA Board Member told credit unions at NAFCU’s Congressional Caucus they have a “powerful story” to tell on Capitol Hill, and turned to the words of an early credit union pioneer to offer inspiration.