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WASHINGTON--Implementation of the Illinois Interchange Fee Prohibition Act will “upend the debit- and credit-card operations” of federally chartered financial institutions and “wreak havoc on the national payment-processing system,” according to a reply brief filed Friday in the U.S. Court of Appeals for the Seventh Circuit.

WASHINGTON—The Office of the Comptroller of the Currency has settled with The Federal Savings Bank of Chicago over allegations it deceptively marketed VA cash-out refinance loans, issuing a consent order that says the bank’s practices induced some borrowers to take new loans that carried significant origination fees, higher interest rates and larger monthly payments. The OCC said the action involves violations of Section 5 of the Federal Trade Commission Act.

WASHINGTON--As the CFPB creates its strategic plan for fiscal years 2026-2030, America’s Credit Unions provided suggestions to ensure the Bureau maintains its focus on "bad actors."

LEXINGTON, K.Y.--UK Federal Credit Union said it has completed its planned merger with Cove FCU, expanding the combined organization to eight branches, more than 118,000 members and approximately $1.75 billion in assets as credit union consolidation continues to reshape local markets.

ALEXANDRIA, Va.—The Digital Token Identifier Foundation is urging NCUA to tighten its proposed GENIUS Act rule, arguing there is a key gap in how payment stablecoins would be identified under the agency’s emerging licensing framework, Asset Servicing Times reported.

TEXARKANA, Texas—The $1.6-billion Red River Employees FCU here has become the newest member of the Defense Credit Union Council, DCUC announced.