CHICAGO – Starting in November, the Federal Reserve’s FedNow Service will raise its network transaction cap tenfold, from $1 million to $10 million—a move expected to expand high-value payment options for financial institutions and their commercial clients.
Fresh Today
WASHINGTON—NCUA is bracing for a significant shift as it undergoes Trump-mandated budget cuts, including a 20% reduction in force expected by year-end, says Ann Petros, vice president of policy engagement and credit union operations at America’s Credit Unions.
WASHINGTON—Will credit unions and their members face a government shutdown at the close of the month?
WASHINGTON—The Defense Credit Union Council has sent letters to Congress applauding bipartisan efforts to modernize outdated financial regulations—and urging lawmakers to extend similar reforms to credit unions.
WASHINGTON--The Department of Justice—on behalf of the NCUA—argued in court filings Friday there is no statutory language restricting the president’s at-will removal power, America's Credit Unions reported.
WASHINGTON—House Oversight Committee Chairman James Comer (R-KY) has unveiled a staff report alleging the Biden Administration funneled nearly $20 billion in environmental grants to politically connected nonprofits, intensifying scrutiny of the Environmental Protection Agency’s (EPA) now-canceled Greenhouse Gas Reduction Fund (GGRF).
FAIRMONT, W.Va.—Fairmont Federal Credit Union has disclosed a sweeping data breach that compromised highly sensitive member information, Cybernews reported. The $565-million credit union said attackers first accessed its systems nearly two years ago, yet the full scope of the incident was not determined until August 2025.
WASHNGTON—Credit unions continue to be drawn into the political fight over Federal Reserve Governor Lisa Cook, as newly surfaced loan documents from Bank Fund Credit Union could bolster Cook’s defense against fraud allegations, Reuters reported.
PURCHASE, N.Y.--Mastercard has unveiled On-Demand Decisioning (ODD), a new solution that gives financial institutions more control over authorization decisions, the company announced.
SAINT PAUL, Minn.—The National Hockey League’s Minnesota Wild have entered a multi-year partnership with Blaze Credit Union, which will serve as the team’s new home helmet sponsor, NHL.com reported.