WASHINGTON—The Financial Technology Association has sued Tennessee to block a new tax on international money transfers, arguing the law unconstitutionally discriminates against foreign commerce and unfairly targets money transmitters while exempting banks and other financial institutions. The lawsuit, filed Wednesday in federal court, seeks to prevent the tax from taking effect Jan. 1, 2027, according to court filings and reporting by Law360.
CHICAGO—Americans are heading into the second half of 2026 with a surprisingly positive outlook on their finances, even as inflation pressures, affordability concerns and global instability continue to weigh on household budgets, according to new research from TransUnion.
WASHINGTON—The Trump Administration is asking a federal judge in Washington, D.C., to dismiss a lawsuit brought by student loan borrowers seeking to revive the Biden administration’s Saving on a Valuable Education (SAVE) repayment plan, arguing the case is now moot because the program no longer exists, Law360 reported.
BEDFORD, Texas—Fusion Auto Finance said its CU Xpress Lease program posted the strongest month in its history in April, with booked leases surging 115% year-over-year as more consumers and credit unions turn to leasing amid higher vehicle prices and rising negative equity levels.
SAN DIEGO—Credit unions are heading into the second half of 2026 expecting growth in auto finance, but a new Credit Union Leasing of America (CULA) survey suggests the opportunity is being shaped less by rate and tariff concerns than by the affordability squeeze facing members.
WASHINGTON—The Consumer Financial Protection Bureau said Bilt will reimburse more than 500 customers who incurred penalty fees and other costs tied to problems during the fintech’s transition to a new bank partner and relaunch of its rent-payment rewards card program, with the agency highlighting the outcome as an example of resolving consumer harm through direct engagement rather than formal enforcement action, Law360 reported.
WASHINGTON—The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued updated guidance clarifying how financial institutions can share information about suspected fraud under Section 314(b) of the USA PATRIOT Act, a move officials said is intended to strengthen efforts to combat financial crime.
ANTIGO, Wis.—Matt Kaudy has assumed the role of president and CEO of CoVantage Credit Union, succeeding retiring CEO Charlie Zanayed and becoming only the fourth CEO in the credit union’s 73-year history.
WASHINGTON—Leaders of the two largest national credit union trade organizations will share the stage at the Defense Credit Union Council's 2026 Annual Conference for a discussion focused on the future of the credit union movement.
SAN JOSE, Calif.—Nvidia has unveiled a new blueprint aimed at helping FIs replace sprawling collections of artificial intelligence tools with a single AI model trained on transaction data that can be used for fraud detection, credit underwriting and risk management, according to PYMNTS.
