WASHINGTON—Two executive orders signed by President Donald Trump are setting up what some fraud and compliance experts see as a regulatory contradiction for financial institutions: tougher Know Your Customer and due diligence expectations for banks at the same time fintech and crypto firms could gain easier access to the financial system with fewer barriers, according to BankInfoSecurity.
Fresh Today
HOUSTON—The $206-million MemberSource Credit Union here has disclosed a data breach affecting 22,308 Texas residents after unauthorized access to its network exposed unencrypted personal information, according to state breach filings and notices.
SAN DIEGO—The legal dispute between San Diego County Credit Union and California Coast Credit Union has been delayed, with the next management conference now pushed from May 22 to June 26, according to information provided to CUToday.info by California Coast.
WASHINGTON—U.S. consumer sentiment fell to another record low in May as Americans grew increasingly worried about inflation, rising gasoline prices and the broader economic outlook, according to the latest University of Michigan survey released Friday.
WASHINGTON--America's Credit Unions is urging CUs to weigh in on two Treasury proposals implementing the GENIUS Act, with comments due in the coming weeks.
WASHINGTON--Routing routine consumer disputes through the NCUA’s Consumer Assistance Center (CAC) is an emerging trend that warrants corrective action, America’s Credit Unions wrote to Chairman Kyle Hauptman.
NEW YORK—A 28-year-old credit union member walks into a branch with a simple question: Can she buy bitcoin? Minutes later, she’s in her car completing the transaction on a crypto app—because her credit union couldn’t help.
KINGSBURY, N.Y.—A vehicle crashed through the front entrance of a Hudson River Credit Union branch, prompting a law enforcement response and temporary closure of the office, according to a report by WNYT.
NEW YORK—CEO pay across the banking sector climbed sharply in 2024, with nearly every chief executive in a new Compensation Advisory Partners analysis receiving higher total compensation than the year before, as boards rewarded stronger earnings, rebounding bonuses and improved shareholder returns following the regional banking turmoil of 2023.
COSTA MESA, Calif.—Experian said it has launched what it is calling a first-of-its-kind framework designed to bring identity verification and accountability to AI-driven transactions, as companies across payments and commerce race to address trust risks tied to autonomous AI agents.