Advanced search

ROCKVILLE, Md.— The $2-billion Lafayette Federal Credit Union is facing a series of class action lawsuits that accuse the CU of failing to protect the sensitive personal information (PII) of more than 75,000 customers in a data breach, Top Class Actions reported.

WASHINGTON—With four months remaining before the deadline to transition federal payments from paper to electronic methods, the Treasury Department is requesting public input on how to best manage the shift.

WASHINGTON—Banks need further guidance from the Office of Foreign Assets Control about how to implement its new recordkeeping requirements, as they deviate from existing bank practices and requirements, the American Bankers Association stated in a letter to OFAC.

TROY, Mich.— As mobile apps and websites have increasingly become the primary customer touch point for FI and credit card brands, it’s getting harder to tell them apart from one another, given the similarity in core capabilities—signaling it’s time to elevate these offerings, J.D. Power said.

CHICAGO—The Illinois General Assembly has passed a one-year delay of the Interchange Fee Prohibition Act (IFPA), a controversial law targeting interchange fees on tax and tip portions of transactions.

MIAMI—While some analysts view the CFPB’s decision to withdraw its open banking rule as a wise move, one expert remains skeptical, warning that credit unions and banks may ultimately suffer in the long run.

WASHINGTON--The White House has sent Congress detailed information on its Fiscal Year 2026 budget--and it includes calling for the elimination of all existing Community Development Financial Institution (CDFI) program funding.