NEW YORK--As artificial intelligence increasingly becomes the primary interface through which consumers manage their financial lives, credit unions and other financial institutions face a growing risk: losing ownership of the member relationship to technology platforms that control the conversation, according to a new PYMNTS Intelligence report produced in collaboration with Velera.
MILWAUKEE– Corporate Central ow offers ACH Fraud Scanning through a partnership with Advanced Fraud Solutions (AFS), the corporate announced.
HONOLULU—Hawaii Central Federal Credit Union has named Gary Nakata as its president.
WASHINGTON--Responding to the NCUA’s proposal to amend regulations regarding mergers and conversions of federally insured credit unions to banks, America’s Credit Unions’ comment letter opposes certain aspects of the proposed rule, ACU noted.
WASHINGTON—By a vote of 85-5, the Senate has passed the bipartisan 21st Century ROAD to Housing Act, advancing legislation that includes the Credit Union Board Modernization Act, a long-sought measure backed by credit unions that would allow well-capitalized credit unions to hold board meetings less frequently under certain circumstances.
NEW YORK—Citigroup is facing a whistleblower lawsuit from a former senior risk management executive who alleges the bank terminated her employment after she raised concerns about risk-management deficiencies and shortcomings in the institution's anti-money laundering controls.
WASHINGTON—Three financial-services trade groups have sued to block Oregon's new law limiting the ability of out-of-state state-chartered banks to charge interest rates above Oregon's 36% cap, opening a new legal battle over whether states can restrict federally authorized interest-rate exportation used in many online lending programs.
NEW YORK—Visa and Mastercard are asking a federal judge in New York to dismiss a newly filed proposed class-action lawsuit by merchants, arguing the claims are barred by the future-claims release contained in the card networks’ landmark $5.54 billion interchange-fee antitrust settlement. Law360 reported.
WASHINGTON—The Defense Credit Union Council has named three credit union leaders to its Hall of Honor, recognizing their contributions to the credit union movement and service to military and veteran communities.
LOS ANGELES— A federal judge has refused to dismiss a lawsuit brought by $73-million POLAM FCU against core processor Fiserv, allowing the credit union to move forward with claims that the company breached its contract, misrepresented the security of its systems and improperly imposed termination-related fees.
