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WASHINGTON—With security at the forefront of U.S. financial institutions’ concerns regarding open banking, a new report reveals the financial innovation’s security track record has been good.

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In recent discussions about credit unions, there have been concerns raised about overdraft fees and claims of predatory practices by the few. While these questions merit some attention, they should not overshadow the reality that the overwhelming majority of credit unions remain committed to their founding mission: serving members, not profits.