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WASHINGTON—NAFCU and CUNA have joined with several other trade associations that include the American Bankers Association in signing a petition asking the CFPB to initiate a rulemaking, under section 553(e) of the Administrative Procedure Act (APA) to define the “larger participants” in the market for data aggregations services that will be subject to CFPB supervision.

ALEXANDRIA, Va.–A former staff member at NCUA who was responsible in part for a number of changes at the agency and practices with which credit unions are now familiar has died.

PALM COAST, Fla.—What can credit unions do to regain their service advantage over banks? It’s a question that has been regularly discussed among analysts after credit unions slipped in service rankings to banks for the third consecutive year in a well-respected national study.

WASHINGTON— The Improving Cybersecurity of Credit Unions Act, which would give NCUA additional authority to examine credit unions’ third-party vendors, has been introduced in the Senate.

NEW YORK—A fintech has introduced a new offering it says will benefit consumers by offering flexibility that’s similar to buy now, pay later (BNPL) financing, but without requiring the consumer to take a loan.

MUNCIE, Ind.–Thrive Credit Union here has been approved by NCUA to add a “two-county, well-defined local community” to its field of membership. The credit union partnered with CUCollaborate on the FOM expansion.

WASHINGTON–For the first time in 13 years, an update to the guidance to regulators on commercial real estate loan workouts is being proposed, and it includes a 60-day public comment period.

ATLANTA–Equifax has confirmed it sent the erroneous credit scores to lenders of all asset sizes on people applying for auto loans, mortgages and credit cards and more during mid-March through early April of this year.

ARLINGTON, Va.—Bank loan officers are reporting tighter standards and stronger demand for commercial and industrial loans to firms of all sizes.