WASHINGTON— The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) is warning financial institutions to step up efforts to detect and report fraud schemes targeting federally funded student aid programs, saying organized criminal rings are using stolen identities, synthetic identities and other tactics to steal taxpayer dollars.
WASHINGTON— A federal appeals court has postponed a decision on former NCUA Board Members Todd Harper and Tanya Otsuka’s request to quickly resume their reinstatement appeal, leaving them off the board while directing the Trump Administration to explain by July 29 how the case should proceed.
NEW YORK— BitMEX, one of the world's largest cryptocurrency exchanges, deliberately designed its trading platform to force customer liquidations and seize their bitcoin, according to a proposed class-action lawsuit filed Thursday in the U.S. District Court for the Southern District of New York.
WASHINGTON—Eliminating the annual renewal requirement for financial institutions that share information under Section 314(b) of the USA PATRIOT Act would make it easier for eligible institutions to participate, America's Credit Unions said in a letter to the Financial Crimes Enforcement Network (FinCEN) on Thursday urging the agency to begin a rulemaking process.
WASHINGTON--Revity Credit Union, headquartered in Granite City, Ill., has joined the Defense Credit Union Council as its newest member.
NEW YORK—Federal prosecutors have charged two Chinese nationals with operating a sophisticated money laundering network that allegedly funneled at least $43 million in proceeds from "pig butchering" investment scams through dozens of shell companies and bank accounts before transferring the money overseas, the Department of Justice reported.
CHICAGO— New federal student loan rules that took effect July 1 are expected to reshape how millions of Americans finance higher education, potentially driving more borrowers toward private lenders while increasing the need for stronger underwriting, according to TransUnion.
WASHINGTON— Brian Johnson, President Trump's nominee to lead the CFPB, told senators Thursday he would approach the agency's future with an "open mind," declining to endorse plans to slash most of the Bureau's remaining workforce while signaling he favors structural reforms over eliminating the CFPB altogether, Reuters reported.
SYDNEY, Australia— More than 2,400 credit union and financial cooperative leaders from 39 countries wrapped up the 2026 World Credit Union Conference (WCUC) Wednesday after four days of discussions on leadership, innovation, cybersecurity, regulation and the future of cooperative finance.
TAMPA-- Velera has been named to TIME’s list of America’s Best Private Companies 2026, the CUSO announced.
