MIAMI—With markets pricing in an 87% chance that the Federal Reserve will cut its benchmark rate by 25 basis points Wednesday, a new WalletHub survey finds that most Americans are far from enthusiastic about the prospect, reflecting deep-seated anxiety over inflation and growing distrust of official economic data.
WASHINGTON--As part of an advocacy network working beyond the U.S., America’s Credit Unions’ World Affairs Committee met Monday to discuss the ongoing partnership between the organization and the World Council of Credit Unions (WOCCU), ACU reported.
WASHINGTON—Comptroller of the Currency Jonathan Gould said Monday that the federal banking system must fully adapt to crypto and digital-asset activity or risk long-term stagnation, arguing that innovation tied to blockchain technology can strengthen — not destabilize — the traditional banking system when properly supervised.
WASHINGTON—The Defense Credit Union Council and America's Credit Unions have joined a powerful coalition of banking and payments groups urging the Federal Reserve to formally withdraw its stalled debit-interchange proposal under Regulation II.
RICHLAND, Wash. --The widening ransomware breach at Marquis Software Solutions has now reached another large credit union, with $6.4-billion Gesa Credit Union confirming that member data was compromised through the vendor’s systems.
SANTA CLARA, Calif.—NCUA has granted a federal charter and Share Insurance Fund coverage to Haven Federal Credit Union here, the agency announced.
WASHINGTON— The Supreme Court on Monday appeared poised to further expand presidential authority over independent agencies during oral arguments in Trump v. Slaughter, a case with sweeping implications across the regulatory landscape, including for former NCUA Board Members Todd Harper and Tanya Otsuka’s lawsuit challenging their removal by the Trump Administration last year.
WASHINGTON— Credit union trade groups are concerned of heightened risk for the industry after the final conference text of the National Defense Authorization Act (NDAA) dropped two top credit union priorities—the Central Liquidity Facility (CLF) modernization and Community Development Financial Institutions (CDFI) provisions—while Congress also races against the clock to avoid another government shutdown early next year.
WASHINGTON--Resolving ambiguities in the implementation of several tax provisions in H.R. 1 (the One Big Beautiful Bill) will help credit unions execute on the consumer benefits in the law, America’s Credit Unions wrote to Treasury Secretary Scott Bessent, in his capacity as Acting Commissioner of the IRS.
WASHINGTON—U.S. bank regulators on Friday formally scrapped decade-old leveraged-lending guidance that had constrained banks’ participation in high-risk corporate loans and helped fuel the explosive growth of private credit, in a move expected to reshape competition across the $1.6-trillion leveraged-loan market, Reuters reported.
