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WASHINGTON—A bipartisan group of senators has released draft legislation to reform aspects of the Bank Secrecy Act (BSA), specifically targeted at anti-money laundering (AML)-combating the financing of terrorism (CFT) requirements.

EDMONTON, Alberta––Servus Credit Union today will present one of the biggest prizes in the history of credit unions when it formally gives $1 million to winning member Andrew Buchner.

ALEXANDRIA, Va.–NCUA has assessed civil money penalties against six credit unions for being late in filing their year-end 2018 call reports.

NEW YORK–A new TV news program from the New York Times that is airing on FX and on Hulu highlights all of the problems around taxi medallion loans in one of its first episodes.

ITTA BENA, Miss. — A “financial desert” and the importance of one credit union’s ATM in one of the most impoverished areas of the United States was featured in an extensive national report.

ARLINGTON, Va.—Total retail sales increased 0.5% in May, and April's sales growth was revised upward from -0.2% to +0.3%. NAFCU's Curt Long noted that strong gains in consumer spending may diminish the chances of a recession in 2019.

WASHINGTON–Americans will carry $70 billion more in credit card debt during 2019 than 2018, according to the latest Credit Card Debt Study from Wallethub, which also lists the U.S. markets with the most and least credit card debt paydowns.

NEW YORK—More red flags are flying in the credit-card industry after a key gauge of bad debt jumped to the highest level in almost seven years.

INDIANAPOLIS—As one of a number of credit unions that just reached a settlement with the CFPB to forgive nearly $170 million in student loan debt, Elements FCU says it did not intend to harm borrowers as a result of its relationship with the CUSO it helped create, Student CU Connect.

WASHINGTON—Total consumer credit rose 5.2% in April (seasonally-adjusted, annualized) and is up 5.3% versus a year ago. However, NAFCU Chief Economist and Vice President of Research Curt Long said while April revealed upward growth trends, overall growth is expected to decline in coming months.