WASHINGTON—Treasury Secretary Scott Bessent faced sharp questioning before the Senate Finance Committee on Wednesday as lawmakers examined the Trump Administration’s FY 2027 budget request for the Treasury Department, with senators pressing him on inflation, tax policy, IRS oversight and broader economic issues. The hearing was held by the Senate Finance Committee and focused on Treasury’s proposed budget and economic priorities.
WASHINGTON—America’s Credit Unions said candidates backed by its political action committee posted a strong showing in Tuesday’s primary elections, with 53 of 55 supported candidates advancing to the general election and two races still too close to call.
RYE, N.Y.— USALLIANCE Financial has named longtime executive and Chief Financial Officer Brett Wheeler as its new president and CEO, succeeding Harry Zhu, who is leaving the organization to pursue other opportunities, the CU reported.
WASHINGTON--The Defense Credit Union Council is advancing two major advocacy priorities this week focused on financial readiness for military communities and underserved populations.
WASHINGTON—Mortgage applications decreased 2.5% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 29.
WASHINGTON--As Treasury works to implement the GENIUS Act, it wants feedback on broad-based principles for determining whether a state-level regulatory regime is substantially similar to the federal regulatory framework.
WASHINGTON--Treasury Secretary Scott Bessent will testify before the Senate Finance Committee on the agency’s FY27 budget Wednesday, and America’s Credit Unions wrote for the hearing’s record on several credit union priorities.
WASHINGTON--An Executive Order on artificial intelligence (AI) released Tuesday does not create any new rights or obligations for credit unions but could impact them in several ways, America's Credit Unions said.
PURCHASE, N.Y.--Mastercard said it is expanding its settlement capabilities to include additional intraday, weekend and holiday settlement options, as well as support for on-chain settlement using regulated stablecoins, marking a significant step in the payments giant’s broader push into digital assets and always-on payments.
MIAMI--U.S. consumers likely paid down a significant amount of credit card debt during the first quarter, with WalletHub projecting a $61-billion decline on an inflation-adjusted basis when the Federal Reserve releases updated consumer credit data Friday afternoon.
