NEW YORK–Just how potentially transformative the new AI-backed technology such as ChatAI might be for credit unions and the broader economy remains the subject of fascination and debate within credit unions, but in the near term its potential applications are less revolutionary and more prosaic, a new review reveals.
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NEW YORK–In a trend that’s being spread on Tik Tok with a hashtag that has seen more than 900 million views, an old school approach to savings is making a comeback among young consumers—individual paper envelopes filled with cash for specific purchases.
NEW YORK—A new survey reveals nearly half of its respondents believe carrying a balance on a credit card improves a person’s credit score.
WASHINGTON—Saying it is part of an effort to modernize its systems, the U.S. Department of Agriculture Food and Nutrition Service (FNS) will begin a five-state pilot utilizing contactless mobile payments for recipients in the Supplemental Nutrition Assistance Program (SNAP).
LONDON—The United Kingdom is introducing an “economic crime levy” (ECL) to fund its efforts in the fight against financial crime and boost anti-money laundering (AML) activities.
PARIS—The French Parliament has passed new legislation that modifies the regulatory framework applicable to digital asset service providers based in France, or that provide services in France.
WASHINGTON—Risks borne by recently collapsed banks should not be paid for by credit unions, CUNA told the House Financial Services Committee ahead of a hearing on the issue.
WASHINGTON—The Consumer Financial Protection Bureau has published its proposal on credit card late fees in the Federal Register. Comments are due May 3.
CUPERTINO, Calif.–Apple is finally launching Apple Pay Later, its version of the buy now, pay later (BNPL) offerings that have taken hold over the past several years and eroded credit card volume in the process.
LAS VEGAS–NACUSO has named its New CUSOs of the Year, presented its Distinguished Service Award and further honored its CUSO of the Year.