PITTSBURGH—A credit union member narrowly avoided losing thousands of dollars after fraudsters posing as employees of Clearview Federal Credit Union used caller ID spoofing, account information and high-pressure tactics to convince her that her debit card had been compromised, according to Yahoo Finance.
SPRINGFIELD, Ill.—Illinois has become one of the first states to adopt a comprehensive regulatory framework for the rapidly expanding buy now, pay later (BNPL) industry after Gov. JB Pritzker signed the Buy-Now-Pay-Later Loan Consumer Protection Act into law.
WASHINGTON—Federal Reserve Vice Chair for Supervision Michelle Bowman said additional changes to the central bank's supervisory and regulatory framework are imminent, including a reorganization of the Fed's Supervision and Regulation Division and the hiring of new leadership to implement a more risk-focused approach to bank oversight.
WASHINGTON—The Federal Housing Administration has released a new implementation guide to help lenders, appraisers and technology providers prepare for the agency's transition to the Uniform Appraisal Dataset (UAD) 3.6 and the redesigned Uniform Residential Appraisal Report (URAR).
SAN DIEGO—The proposed merger between California Coast Credit Union and San Diego County Credit Union has apparently come to an end, with Cal Coast confirming Friday that the two institutions have mutually agreed not to move forward with the transaction.
SAN FRANCISCO—SF Fire Credit Union has named Robert Kassab president and CEO after he served as interim CEO, the $1.6-billion credit union announced.
WASHINGTON—The FDIC has proposed sweeping changes that would significantly reduce regulatory requirements for large banks while cutting the banking industry's annual deposit insurance assessment bill by an estimated $4 billion, or roughly one-third, marking one of the agency's most significant deregulatory initiatives under Chairman Travis Hill.
WASHINGTON--The NCUA, CFPB, and other banking agencies issued a final joint rule that establishes technical standards for data submitted to certain financial regulatory agencies, America's Credit Unions noted.
WASHINGTON--In a comment letter to the Federal Communications Commission (FCC), America’s Credit Unions, the Defense Credit Union Council, and other trade associations offered support for a proposal to place stricter “know your customer” (KYC) rules on voice service providers.
WASHINGTON—House Speaker Mike Johnson on Thursday said the bipartisan 21st Century ROAD to Housing Act will be sent to President Donald Trump, starting the Constitution's 10-day review period despite the president's decision a day earlier to cancel a planned bill-signing ceremony, according to Reuters.
