WASHINGTON—Debit card issuers subject to the Durbin Amendment’s interchange price controls saw their average authorization, clearing, and settlement expense, excluding fraud, fall to 3.6 cents per transaction in 2017, down 54% since 2009, the Fed reported.
NEW BRITAIN, Conn.–The ordeal of Matthew Yussman, the credit union CFO who was held hostage overnight and then sent to his CU’s office with what he was told was a bomb strapped to his chest as part of a robbery attempt, was profiled on NBC’s Dateline program.
MODESTO, Calif.–Valley First Credit Union has selected a new CEO to replace the retiring Hank Barrett. Named to succeed Barrett effective May 20 is Kathryn Davis, who has most recently served as the CEO of BALANCE.
HOBOKEN, N.J.–A new analysis of student debt over the past decade offers a look at how “the situation has severely worsened over the last 10 years,” while also showing average debt at 922 colleges and universities in the United States.
WASHINGTON—Sens. Steve Daines (R-MT) and Gary Peters (D-MI) have reintroduced legislation designed to help protect personal information of American servicemembers and foreign service personnel who move overseas.
WASHINGTON—National Small Business Week is underway. Sponsored by the Small Business Administration (SBA), the week began with a number of events over the weekend, including a hackathon and national awards ceremonies.
WASHINGTON–Here’s are the hearings, town halls and other events credit unions are watching in Washington this week.
CHICAGO — A mega-church here has issued a public apology to a credit union, saying a lawsuit it filed was a sinful violation of 1 Corinthians 6 and biblically should not have been pursued.
WASHINGTON—The Treasury’s Office of Foreign Assets Control (OFAC) has published “A Framework for OFAC Compliance Commitments” to provide guidance on the essential components of an effective sanctions compliance program (SCP).
NEW YORK–A U.S. federal court here has ruled it has the authority to hear a challenge by the New York Department of Financial Services to the Office of the Comptroller of the Currency’s plan to issue special-purpose national bank (“SPNB”) charters to fintechs.
