Fresh Today

WASHINGTON—NAFCU and CUNA have joined with several other organizations to file an amicus brief with the U.S. Court of Appeals for the Eleventh Circuit arguing that the Fair Credit Reporting Act (FCRA) requires furnishers and consumer reporting agencies (CRAs) to investigate factual inaccuracies, not legal disputes.

ALEXANDRIA, Va.– United States Senate FCU said it will be eliminating its NSF and overdraft fees. in the second quarter of this year. Plans are to develop a solution to support members who overdraw their accounts and will be announced soon, the credit union said.

WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) is being asked by CUNA to reconsider its position in its beneficial ownership information (BOI) access and safeguards proposal in a letter sent this week.

DAEJEON, South Korea.—The World Council of Credit Unions (WOCCU) and its Worldwide Foundation for Credit Unions (WFCU) participated in the signing of a memorandum of understanding in this country that the organizations said paves the way for the National Credit Union Federation of Korea (NACUFOK) to partner with the Caribbean Confederation of Credit Unions (CCCU) to conduct a learning and technical assessment of the digital capacity of the Caribbean credit union sector and aid CCCU in increasing their digital financial services throughout the region.

WASHINGTON– As it prepares to celebrate five years of Underground Collisions at an event in Washington, D.C., and the engagement of hundreds of thought-leaders, Mitchell Stankovic, the meeting’s host, has issued a statement saying thank you to everyone who has participated as well as thanking five core sponsors.

SNELLVILLE, Ga.–The African American Credit Union Coalition will host a webinar titled “Celebrating the Intersectionality of Icons in the Credit Union Industry” as part of its Friday Conversation series. The webinar is scheduled for today from 1-2 p.m.

WASHINGTON—Federal Reserve Governor Christopher Waller is predicting crypto prices could fall to zero, saying crypto investments are “as speculative as baseball card investing.” Waller’s prediction comes at the same time Bitcoin hit a six-month high of $24,620 as of Feb. 16.

LONDON—The Financial Conduct Authority (FCA), which regulates U.K. businesses that offer services for digital assets, has sent written evidence to the U.K. Treasury Committee that suggests 85% of U.K. companies requesting registration of digital assets did not adhere to minimum AML requirements.

LONDON—Continuing the trend of big banks closing branches while CUs expand them, NatWest plans to close 23 of its physical facilities in England and Wales.

ALEXANDRIA, Va.–By a 3-0 vote, the NCUA board has approved a final rule on cyber incident reporting for federally insured credit unions.