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WASHINGTON–The president emeritus of the Tax Foundation blasted the credit union tax exemption in an opinion piece in the Wall Street Journal, arguing CUs have “discarded their mission of serving people of modest means and have become profit-seeking enterprises masquerading as tax-exempt nonprofits.

WASHINGTON—Students face risk when entering into agreements with colleges to spread the upfront cost of tuition into several, interest-free loan payments, according to a new report from the Consumer Financial Protection Bureau (CFPB).

WASHINGTON—Sen. Bill Hagerty (R-TN) told attendees at NAFCU’s Congressional Caucus he understands credit unions’ frustrations with the CFPB and the cost of keeping up with regulations.

WASHINGTON—Ahead of this week’s House Financial Services Subcommittee on Digital Assets, Financial Technology and Inclusion hearing on the implications of a central bank digital currency (CBDC), NAFCU has again expressed its opposition to the development of any CBDC, saying the net costs will exceed the benefits.

WASHINGTON—The Fed’s new FedNow solution will have as significant an effect on payments as Uber had on transportation, attendees at NAFCU’s Congressional Caucus were told.

WASHINGTON—Federal Housing Finance Agency (FHFA) Director Sandra Thompson told credit unions here it is sorting through feedback on a new proposal, while NCUA Vice Chairman Kyle Hauptman discussed NCUA’s proposals around distributed ledger technologies.

WASHINGTON—Extending debit interchange restrictions to credit cards, such as those proposed in the Credit Card Competition Act, could lead to higher costs for consumers, and as a result, Congress should rethink taking such action, a new study suggests.

HYATTSVILLE, MD – Library of Congress FCU has named a new president and CEO.

WASHINGTON– During the same week numerous credit union groups are in Washington lobbying against the Credit Card Competition Act, the Merchants Payments Coalition is praising remarks on the Senate floor by sponsors of the legislation who blasted Visa and Mastercard’s reported plans to increase credit card swipe fees by more than $500 million beginning in October.

QUITO, Ecuador— Nearly 40% of Venezuelan refugees and migrants who arrived in Ecuador with professional certifications are still unemployed, with just 19% successfully revalidating those certifications in their new host country, according to a new research study conducted by the USAID/World Council of Credit Unions (WOCCU) Economic Inclusion Project (EIP).