WASHINGTON—By a 68-29 vote, the Senate has confirmed Scott Bessent to serve as Treasury Secretary. The confirmation comes at the same time American journalist and blogger Charles Gasparino reported on X the White House is weighing whether to give Bessent a dual role--to act as acting head of the CFPB until a full-time chief can be found, once Rohit Chopra is removed by the Trump Administration.
Fresh Today
WASHINGTON—Credit unions and trade associations pulling together is what’s needed this year to fend off what appears to be a significant threat to the movement’s tax status, says Jason Stverak, who adds the possibility of CUs losing their tax break in ’25 keeps him up at night.
WASHNGTON—America’s Credit Unions has launched its series of digital ads across the country to share the message: Don't Tax My Credit Union.
WASHINGTON—In an effort to strengthen partnerships between credit unions and the Small Business Administration (SBA), the Defense Credit Union Council has sent a letter to the Senate Committee on Small Business and Entrepreneurship regarding the confirmation of Kelly Loeffler as SBA administrator.
SEATTLE — A piece of heavy equipment was recently used to rip two ATMs out of a BECU branch here, KOMO News reported.
PHOENIX, Ariz.– Desert Financial Credit Union is distributing $16 million in Member Giveback Bonuses this month, bringing the total to $106 million awarded over the past eight years, the credit union said.
INDIANAPOLIS– The $884-million Financial Center First Credit Union here and $51-million Indianapolis Post Office Credit Union have agreed to merge.
MENDOTA HEIGHTS, Minn.—Expedition Credit Union has tapped Shawn Lannier to succeed Paul Dammann as president and CEO, the CU reported.
WASHINGTON—An Executive Order issued by Donald Trump creating the President’s Working Group on Digital Assets Markets also prohibits the federal government from developing a central bank digital currency (CBDC), America’s Credit Unions reported, noting it has raised concerns with potential CBDC development, including risks to consumer privacy with little benefit.
MADISON, Wis.—Credit union loan balances typically grow on average 8% per year over the long run. However, based on the latest data, CU loan balances are only rising at a 1.8% seasonally-adjusted annual rate, the slowest pace since 2011, TruStage shared in its latest Trends Report.