WASHINGTON--“Phantom debt” tied to Buy Now, Pay Later poses risks to both borrowers and housing market stability, and America’s Credit Unions is urging the Department of Housing and Urban Development (HUD) to factor it into Federal Housing Administration (FHA) underwriting standards.
SAN DIEGO—Credit unions are generally more optimistic about their auto finance portfolios than they were nine months ago, with the majority having seen an increase in auto financing compared to last year, according to a new survey from Credit Union Leasing of America (CULA).
ALEXANDRIA, Va.—NCUA is underscoring its zero-tolerance stance on retaliation against credit unions that raise concerns about the agency’s actions or policies.
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.
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.
