WASHINGTON—Following this week’s ICBA Washington Summit, America’s Credit Unions moved Friday to reinforce its message on Capitol Hill, with Chief Advocacy Officer Kathleen Coulombe sending a memo to congressional offices emphasizing the industry’s “people over profit” model and its role in serving local communities.
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WASHINGTON—Michelle Bowman said the rapid emergence of artificial intelligence—particularly tools capable of identifying cyber vulnerabilities—is forcing regulators to rethink how financial institutions manage risk, even as the technology promises major efficiency gains across banking.
WASHINGTON--The Defense Credit Union Council Friday sent a letter to leaders of the Puerto Rico House expressing strong concerns over H1216 and its potential impact on consumers, small businesses, and financial institutions operating in Puerto Rico.
WASHINGTON--The FCC has voted unanimously to move ahead with stronger “know your customer” rules for voice service providers, a step aimed at stopping illegal robocalls before they enter the phone network.
WASHINGTON--Credit unions need every advocacy resource at their disposal, and in an election year, that means supporting credit union champions, America’s Credit Unions emphasized.
WASHINGTON—Credit unions are urging the Federal Trade Commission to rescind a policy statement they say is creating confusion and potential harm for lenders.
SAN DIEGO—A California court has denied California Coast Credit Union’s bid for a preliminary injunction in its dispute with San Diego County Credit Union, leaving the proposed $13-billion “merger of equals” effectively stalled as litigation over the deal’s collapse continues.
NCUA Shuts Down People Trust Community FCU After Founder’s Legal Challenge Fails To Halt Liquidation
NORTH LITTLE ROCK, Ark.—NCUA on Thursday liquidated People Trust Community FCU, closing a small Arkansas minority depository institution after a months-long dispute over whether the credit union’s problems reflected unsafe management or the kind of vendor and technology failures its founder said regulators failed to properly weigh.
HARRISBURG, Pa.—Jeremy Antuan Boria Fraticelli, the alleged ringleader of a central Pennsylvania fraud ring that targeted credit union and bank customers, has been sentenced to one year to 23 months in prison, followed by five years of probation, after pleading guilty to corrupt organizations, identity theft and theft charges, according to Pennsylvania Attorney General Dave Sunday.
WASHINGTON— President Donald Trump said his administration will look into how banks are handling payments and debt treatment for borrowers affected by the Los Angeles wildfires, singling out Wells Fargo as being “very difficult to deal with” after meeting with Los Angeles Mayor Karen Bass and Los Angeles County Supervisor Kathryn Barger, according to Reuters.