WASHINGTON--A bipartisan group of Senators wrote to appropriations leaders Wednesday requesting “no less than” $324 million for the Treasury’s Community Development Financial Institutions (CDFI) Fund for FY2027, America's Credit Unions reported.
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WHITE HOUSE--As the House Financial Services subcommittee prepared for its hearing Thursday on promoting access to credit, America’s Credit Unions weighed in on legislation facing the committee.
WASHINGTON— President Donald Trump said this week that rapidly advancing artificial intelligence could pose new risks to the U.S. financial system, while also arguing the technology could ultimately make banking “better and safer and more secure,” according to Reuters.
WASHINGTON— The Trump Administration is moving to block the Illinois’ swipe-fee law from applying to national banks, adding a major new federal preemption twist to the industry’s already fast-tracked Seventh Circuit appeal and potentially strengthening the broader fight being waged by banks and credit unions against the state’s Interchange Fee Prohibition Act (IFPA).
ORLANDO, Fla.—America’s Credit Unions President/CEO Scott Simpson offered a candid, wide-ranging assessment of the industry’s biggest threats and fault lines during a fireside chat with Velera President/CEO Chuck Fagan on Wednesday, telling credit union leaders the most immediate job in Washington is knowing the difference between a real crisis and a threat that still needs to be watched.
ORLANDO, Fla.—If there was one revealing moment during Wednesday morning’s Credit Union Executive Panel at VeleraLIVE, it may have been what happened when moderator Mark Sievewright asked for a show of hands from the audience on two hot-button issues: how many credit union leaders had a clear AI strategy, and later, how many had a stablecoin strategy. In both cases, very few hands went up.
ORLANDO, Fla.—At VeleraLIVE on Wednesday, futurist Mike Walsh delivered a blunt message to credit union leaders: the AI era will not be defined by who has the smartest people or the newest tools, but by which institutions redesign how decisions get made—and who is willing to lead through that change.
ORLANDO, Fla.— Velera said the three new data-focused offerings it unveiled at VeleraLIVE Wednesday were built in direct response to what credit unions have been telling the CUSO for years: they have data everywhere, but too often lack the ability to connect it, analyze it in real time and act on it quickly.
WASHINGTON— President Donald Trump on Wednesday threatened to fire Federal Reserve Chair Jerome Powell if Powell does not step down when his term as Fed chief ends on May 15, escalating a confrontation that is intensifying concerns over the central bank’s independence.
WASHINGTON— The Office of the Comptroller of the Currency has terminated the CFPB's lease on its Washington headquarters and agreed to transfer the property to the General Services Administration, according to records obtained by Reuters, a move that raises fresh questions about the Trump Administration’s longer-term plans for the CFPB.