WASHINGTON—An attorney for the Federal Housing Finance Agency told the U.S. Court of Appeals for the D.C. Circuit this week that FHFA had broad authority to act in its own interests as conservator for Fannie Mae and Freddie Mac after the 2008 housing crash, and did not have to put the companies’ private shareholders first, according to Law360’s report on the hearing.
WASHINGTON— Anthropic’s Claude Mythos Preview is showing a new level of offensive cyber capability that credit unions and other financial institutions should view as an immediate, not theoretical, risk, with new testing from the U.K.’s AI Security Institute finding the model could autonomously complete a full corporate network intrusion from reconnaissance to total takeover in a controlled environment, according to CareersInfoSecurity.
SACRAMENTO, Calif.— PNC Bank, U.S. Bank and Wells Fargo have each been hit with separate proposed class-action lawsuits alleging they improperly shared sensitive financial data from website visitors with third parties without consent, according to Bloomberg Law.
MADISON, Wis.— Filene Research Institute’s innovation testing program, FiLab, has released findings from independent pilots of two financial technology solutions designed to address fraud, one of the most urgent and costly challenges facing U.S. credit unions.
MCLEAN, Va.--The 30-year fixed-rate mortgage continued to fall, averaging 6.23% this past week, Freddie Mac reported.
WASHINGTON—The Trump Administration on Thursday formally moved to reclassify state-licensed medical marijuana as a less-restricted drug under federal law, a significant policy shift that could create new lending, payments and compliance considerations for credit unions serving cannabis-adjacent businesses in states with medical programs.
ALEXANDRIA, Va.--NCUA is seeking industry input on whether it can reduce reporting burdens tied to some of the agency’s core data collections, announcing Thursday it has issued a Request for Information on potential changes to the 5300 Call Report, 5310 Corporate Call Report and Form 4501A Profile.
WASHINGTON--The House Appropriations Committee advanced its FY27 Financial Services and General Government (FSGG) bill Wednesday following a two-day markup, America’s Credit Unions reported, adding the bill contains language to bar the Federal Reserve from issuing a central bank digital currency, which the trade group has supported.
WASHINGTON--With NCUA’s deregulation efforts ongoing, America’s Credit Unions is encouraging future proposals to include updates to fidelity bond regulations. A letter sent Wednesday follows up on an October letter to the agency detailing the need for such changes.
WASHINGTON— Credit card startup Mission Lane has applied to become a U.S. bank, seeking approval from federal regulators for a national bank charter that would let it move deeper into the regulated banking system, according to PYMNTS, which cited Bloomberg News and the company’s banking application.
