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NEW YORK--America’s Credit Unions and the New York Credit Union Association, together with American Bankers Association, Bank Policy Institute, and the Clearing House Association, have filed an amicus brief in support of Citibank’s appeal in a lawsuit related to liability under the Electronic Fund Transfer Act (EFTA).

CHICAGO—With credit washing erasing billions in legitimate debt from consumer files and warping lenders’ view of borrower risk, financial institutions are facing a fast-escalating threat that’s already reshaping credit-decisioning.

TROY, Mich.— With fraud surging across financial services, new J.D. Power data show a troubling gap that should concern credit unions: nearly one-third of consumers hit by fraud in the past year still aren’t taking even basic steps to protect their accounts—and many say their providers never prompted them to do so.

WASHINGTON--The Defense Credit Union Council has joined a broad coalition of major financial-services trade groups—including America’s Credit Unions—and consumer protection organizations in submitting a joint letter to the Federal Communications Commission (FCC) addressing the agency’s responsibilities under the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act.

WASHINGTON—Federal Reserve Governor Michael Barr is warning that current efforts to roll back bank-supervision standards could heighten risks across the financial system, cautioning that weakening core oversight tools may leave institutions more vulnerable in the next period of stress.

NEW YORK—Digital scams are eroding the very trust that underpins banking and payments, creating a growing systemic risk for financial institutions, according to “Financial Scams and Consumer Trust,” a joint report by PYMNTS Intelligence and Block.