PROVO, Utah & BIRMINGHAM, Ala.—In one of the year’s more complex bank–fintech restructurings, Green Dot Corporation is set to split its operations under a pair of acquisition agreements with Smith Ventures and CommerceOne Financial Corporation, the organizations announced.
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WASHINGTON—A new FASB update aims to eliminate a long-criticized “double count” of credit losses that has distorted earnings for financial institutions acquiring loan portfolios, according to the Accounting Standards Update (ASU 2025-08) on purchased loans.
WASHINGTON—America’s Credit Unions President/CEO Scott Simpson said the trade group is sharpening its focus on the unique pressures facing small credit unions following a series of meetings and last week’s Small Credit Union Conference in Kansas City.
CHICAGO—Holiday shoppers report that they are expecting to rely more heavily on credit cards this season, with 42% naming it their preferred payment method—up from 38% last year.
WASHINGTON—The Supreme Court on Monday declined to hear the petition filed by former NCUA Board Members Todd Harper and Taya Otsuka, in their removal-from-office lawsuit—an action that keeps the matter in the U.S. Court of Appeals for the D.C. Circuit and places renewed attention on a separate, high-stakes Supreme Court case that could upend the foundation of independent federal agencies, including the NCUA.
WASHINGTON--The Defense Credit Union Council has sent a letter to U.S. Treasury Secretary Scott Bessent expressing strong opposition to recent banking-industry proposals that would require federal credit unions to file IRS Form 990.
WASHINGTON--It is imperative credit unions are authorized providers of the “Trump Accounts” created under the One Big Beautiful Bill (H.R. 1), America’s Credit Unions wrote to the Treasury Department as it evaluates which financial institutions will offer the accounts.
WASHINGTON--With bankers "distorting the truth" about credit unions, America’s Credit Unions President/CEO Scott Simpson wrote to Congressional offices Friday setting the record straight on credit unions, their not-for-profit tax status, and the widespread consumer support they receive.
WASHINGTON—The Defense Credit Union Council is pushing back against the American Bankers Association’s recent survey and policy recommendations, calling the ABA’s criticisms of credit unions “misleading” and part of a broader effort to chip away at the credit union model.
WASHINGTON—The CFPB is preparing to furlough most of its workforce on Dec. 31, agency officials told employees, marking the most dramatic step yet in the Trump administration’s effort to wind down the Bureau’s operations.