Fresh Today

WASHINGTON--The White House has sent Congress detailed information on its Fiscal Year 2026 budget--and it includes calling for the elimination of all existing Community Development Financial Institution (CDFI) program funding.

WASHINGTON—Banks need further guidance from the Office of Foreign Assets Control about how to implement its new recordkeeping requirements, as they deviate from existing bank practices and requirements, the American Bankers Association stated in a letter to OFAC.

WASHINGTON—With four months remaining before the deadline to transition federal payments from paper to electronic methods, the Treasury Department is requesting public input on how to best manage the shift.

ALEXANDRIA, Va.--NCUA issued one prohibition order in May, the agency announced.

ROCKVILLE, Md.— The $2-billion Lafayette Federal Credit Union is facing a series of class action lawsuits that accuse the CU of failing to protect the sensitive personal information (PII) of more than 75,000 customers in a data breach, Top Class Actions reported.

MIAMI—Credit card processing fees have become all too common in recent years, popping up for everything from online and app-based orders to certain in-person purchases.

TROY, Mich.— As mobile apps and websites have increasingly become the primary customer touch point for FI and credit card brands, it’s getting harder to tell them apart from one another, given the similarity in core capabilities—signaling it’s time to elevate these offerings, J.D. Power said.

WASHINGTON—As the Treasury Department leads the Financial Literacy and Education Commission (FLEC) forward, the Defense Credit Union Council encouraged the Department to formally recognize and partner with credit unions—particularly those serving the military community.