WASHINGTON— America's Credit Unions and every state credit union league are urging the Senate to approve the CLARITY Act while making targeted changes they say are needed to protect credit unions' ability to compete in digital assets and continue serving local communities.
Fresh Today
WASHINGTON--Ahead of Thursday's Senate Banking Committee confirmation hearing for Consumer Financial Protection Bureau director nominee Brian Johnson, the Defense Credit Union Council urged lawmakers to pursue a balanced regulatory approach that promotes consumer protection while providing credit unions with greater regulatory certainty and appropriately tailored oversight.
GREENVILLE, Pa.—Bessemer System Federal Credit Union has filed a proposed nationwide class action against TruStage Financial Group, alleging the company's cybersecurity practices were inadequate and that a July cyber incident disrupted critical services relied on by credit unions across the country. The complaint was filed July 17 in the U.S. District Court for the Western District of Wisconsin.
WASHINGTON--Legislation currently introduced would help smaller credit unions join the Federal Home Loan Bank (FHLB) System, America’s Credit Unions wrote to a House subcommittee Monday ahead of an oversight hearing on FHLBs.
WASHINGTON--A vote on the Main Street Capital Access Act (H.R. 6955) is likely on the House floor Tuesday, and America’s Credit Unions wrote to House leadership in support of the bill but also pushing several additional credit union issues for future consideration. The bill contains regulatory relief provisions for both credit unions and community banks, but several provisions only “address concerns for banks while not tackling top issues for credit unions,” the letter reads.
BLOUNTSTOWN, Fla.—The $170-million Calhoun Liberty Credit Union here has become the newest member of the Defense Credit Union Council, DCUC announced.
SYDNEY, Australia—World Council of Credit Unions President and CEO Paul Treinen opened Monday's general session at the 2026 World Credit Union Conference by urging credit unions to prepare for a rapidly changing financial landscape shaped by geopolitical uncertainty, technological disruption and rising member expectations.
SAN FRANCISCO— Block Inc., the parent company of Cash App, has agreed to pay $45 million to settle a multistate investigation alleging it misled consumers about the app's fraud protections and failed to adequately safeguard users from scams, with 46 states requiring the fintech company to strengthen customer support and security practices, Reuters reported.
NEW YORK--A seemingly small decline in debit card authorization performance can translate into significant lost revenue for financial institutions, according to new research from PYMNTS Intelligence, which argues many issuers underestimate the true cost of relying on legacy debit processing systems.
FARMINGTON, Mich.— Members of Advantage One Credit Union have overwhelmingly approved the institution's merger with Farmington-based LOC Credit Union, paving the way for the combined organization to become the 36th-largest credit union in Michigan with nearly $750 million in assets and more than 45,000 member accounts, the organizations announced.