TAMPA--Despite persistent inflation, elevated gasoline prices and weakening consumer sentiment, Americans continue to spend, but significant generational differences are emerging in how they pay and where they direct their dollars, according to the latest Velera Payments Index, which found younger consumers increasingly favoring digital-first payment experiences and essential spending categories while older consumers maintain more traditional payment habits.
TALLAHASSEE, Fla.—The League of Credit Unions & Affiliates has named John Bratsakis as its next chief executive officer, selecting the longtime credit union executive following a national search conducted by Sterling | Martin. Bratsakis will assume the role on Aug. 3 and will oversee the organization and its affiliated companies.
MCLEAN, Va.—Mortgage rates moved lower for the second consecutive week, with the average 30-year fixed-rate mortgage declining to 6.47%, according to Freddie Mac.
WASHINGTON—Federal regulators have proposed new customer identification requirements for payment stablecoin issuers, marking another step in implementing the GENIUS Act and bringing the emerging sector under Bank Secrecy Act compliance standards.
WASHINGTON--As the Senate prepares to pass bipartisan housing legislation with several credit union-supported provisions, America’s Credit Unions urged the chamber to advance the measure and consider additional regulatory relief in a letter to Senators Wednesday.
JACKSON, Miss.—The fallout from the alleged $95-million fraud at Jackson Area Federal Credit Union intensified this week after Chad Bridges, the Mississippi Insurance Department executive named in the NCUA's civil lawsuit, was terminated from his state position just days after being placed on administrative leave.
MEMPHIS, Tenn.—A new report from SRM suggests the current wave of bank and credit union mergers is being driven less by financial distress and more by the growing need for scale to support investments in technology, talent and payments infrastructure.
MENLO PARK, Calif.—Robinhood Markets is eliminating approximately 10% of its full-time workforce, or about 290 positions, as part of a restructuring aimed at flattening management layers and improving operational efficiency, even as the online brokerage says business performance remains strong, Reuters reported.
KENNEWICK, Wash.—For years, small credit union leaders have walked past stacks of boxes in basements, attics or backrooms, or paid monthly fees for offsite storage units filled with member account statements dating back 40, 50, or even 60 years — records they were afraid to destroy because of confusing regulatory guidance, contends Doug Wadsworth, who adds that burden just got significantly lighter.
ALEXANDRIA, Va.—The NCUA has released the agenda for its June 24 open board meeting, which will include briefings on regulatory updates, the National Credit Union Share Insurance Fund's first-quarter 2026 performance, and the agency's 2026 mid-year budget.
