WASHINGTON--As the CFPB creates its strategic plan for fiscal years 2026-2030, America’s Credit Unions provided suggestions to ensure the Bureau maintains its focus on "bad actors."
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WASHINGTON--Implementation of the Illinois Interchange Fee Prohibition Act will “upend the debit- and credit-card operations” of federally chartered financial institutions and “wreak havoc on the national payment-processing system,” according to a reply brief filed Friday in the U.S. Court of Appeals for the Seventh Circuit.
WASHINGTON— A new artificial intelligence cybersecurity threat that CUToday.info has been tracking is drawing sharper warnings from security leaders, with new reports from BankInfoSecurity suggesting Anthropic’s new Claude Mythos model—and the early-access Project Glasswing effort around it—could accelerate the speed and scale of cyberattacks in ways many financial institutions, including credit unions, are not built to handle.
ALEXANDRIA, Va.—The Digital Token Identifier Foundation is urging NCUA to tighten its proposed GENIUS Act rule, arguing there is a key gap in how payment stablecoins would be identified under the agency’s emerging licensing framework, Asset Servicing Times reported.
WASHINGTON—The Office of the Comptroller of the Currency has settled with The Federal Savings Bank of Chicago over allegations it deceptively marketed VA cash-out refinance loans, issuing a consent order that says the bank’s practices induced some borrowers to take new loans that carried significant origination fees, higher interest rates and larger monthly payments. The OCC said the action involves violations of Section 5 of the Federal Trade Commission Act.
LEXINGTON, K.Y.--UK Federal Credit Union said it has completed its planned merger with Cove FCU, expanding the combined organization to eight branches, more than 118,000 members and approximately $1.75 billion in assets as credit union consolidation continues to reshape local markets.
NEW YORK— A growing number of middle-market CFOs are taking a closer look at stablecoins as practical tools for moving money, with interest now outpacing that of traditional cryptocurrencies, according to new data from PYMNTS Intelligence.
FORT LEE, N.J.— Cross River Bank here has, at least for now, beaten back a proposed investor class action tied to the collapse of solar lender Sunlight Financial, with a federal judge dismissing claims that the bank helped fuel Sunlight’s problems by originating or warehousing risky solar loans that allegedly were not properly reflected in the company’s financial picture.
MCLEAN, Va.—Capital One has been hit with a proposed class action in federal court in Virginia alleging it unlawfully wiped out billions of dollars in earned credit card rewards by shutting down customers’ accounts without cause and then refusing to let cardholders redeem points or cash back they had already accrued.
WASHINGTON--America’s Credit Unions is urging credit unions to weigh in on two NCUA proposals with comment deadlines fast approaching, while also reminding institutions that the window to submit feedback to ACU—so it can help shape the trade group’s own comment letters—is also closing quickly.