SAN FRANCISCO—Visa has shut down its U.S. open-banking business, Reuters reported, as friction between banks and fintechs over customer data access continues to intensify.
Fresh Today
NEW YORK — A Latino civil rights organization filed a class-action lawsuit against $4.6-billion Municipal Credit Union for allegedly denying access to loan products to recipients of Deferred Action for Childhood Arrivals (DACA) and other immigrants solely because of their citizenship status, according to papers filed in federal court.
WASHINGTON—The Defense Credit Union Council is pressing Congress to modernize deposit insurance protections, calling it a critical step to safeguard small businesses and strengthen local economies.
MADISON, Wis.— The World Council of Credit Unions has appointed Paul Treinen as its permanent president and CEO.
WASHINGTON--Following up on credit union concerns raised during the Treasury roundtable on Currency Transaction Report/Suspicious Activity Report (CTR/SAR) modernizations earlier this month, America’s Credit Unions wrote to Treasury Secretary Scott Bessent.
WASHINGTON--The U.S. Court of Appeals for the D.C. District set an expedited briefing schedule in dismissed NCUA board members Todd Harper and Tanya Otsuka’s legal challenge for reinstatement. The updated schedule could lead to a ruling by the end of the year, America's Credit Unions reported.
WASHINGTON—The U.S. Court of Appeals for the D.C. Circuit has granted the Justice Department’s emergency motion to bar fired NCUA Board Members Todd Harper and Tanya Otsuka from returning to the NCUA board while their appeal is pending.
WASHINGTON—The Consumer Financial Protection Bureau is moving to compensate consumers harmed by the collapse of Synapse Financial Technologies, a now-bankrupt banking-as-a-service (BaaS) provider, PYMNTS reported.
WASHINGTON— The CFPB has wrapped up nearly all regulatory matters flagged by its examiners as Trump-appointed leaders move to dismiss most of the agency’s remaining staff, Bloomberg Law reported.
MILWAUKEE—Millennials may be driving record loan balances at credit unions, but new research from Raddon shows they’re also hitting the brakes on borrowing—overwhelmed by debt and struggling to keep up with payments.