WASHINGTON—The House has passed H.R. 5911, the Fair Hiring in Banking Act, by a 329-88 vote. The legislation is supported by both CUNA and NAFCU.
Fresh Today
ALEXANDRIA, Va.–NCUA is joining with the Community Development Financial Institutions (CDFI) Fund to co-host a webinar on resources for community development investments being sought by credit unions.
OLYMPIA, Wash.–Washington State Employees Credit Union has announced an expanded partnership with the state of Washington and its park system.
WASHINGTON—Comptroller of the Currency Michael Hsu is signaling the OCC will be giving more scrutiny to bank mergers, and he has directed the agency to work with the Department of Justice (DOJ) and other banking regulators to review merger frameworks.
ONTARIO, Calif.–Record-high deposits are poised to finally decline going into summer of 2022 among California’s financial institutions as local households continue drawing down their unprecedented savings to afford the ongoing price inflation for goods and services, according to a newCalifornia Credit Union Industry Snapshot released by the state league.
ALBANY, N.Y.–After failing to pass last year, the New York Public Banking Act has returned to the state legislature and it again has credit union support.
ALBUQUERQUE, N.M.–The Credit Union Association of New Mexico is reporting it has launched a number of employee resource groups (ERG) with a goal of enabling the workers in the state’s 40 credit unions to network and support one other.
LITHICUM, Md.–State Employees’ Credit Union of Maryland has selected the AI-powered credit decision from Scienaptic AI.
DUBAI, UAE–The ways in which buy now, pay later (BNPL) solutions are now making even bigger inroads into the traditional consumer loan business can be seen in one new app that has just concluded a round of funding.
LOS ANGELES–More than two-thirds of more than 1,600 consumers surveyed believe there is racism and bias present in the financial system and credit scoring system, according to Zest Ai, a provider of AI-powered underwriting software, which conducted the survey.