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WASHINGTON—Paul Benda, executive vice president of risk, fraud and cybersecurity at the American Bankers Association, urged Congress last week to create a national fraud prevention strategy, including a new Office of Scam and Fraud Prevention within the Executive Office of the President, as part of his testimony before the House Financial Services Subcommittee on Oversight and Investigations.

WASHINGTON--Retailers should not be permitted to participate in oral arguments in the challenge to the Illinois Interchange Fee Prohibition Act (IFPA), America’s Credit Unions, the Illinois Credit Union League, and other organizations wrote in a filing with the U.S. District Court for the Northern District of Illinois.

CHICOPEE, Mass – The $758-millionPolish National Credit Union has named Michael Sugrue President.

DALLAS—BankSocial announced the launch of its integrated digital wallet and AI agent infrastructure, while also stating it has become the first Web3 platform live on the Federal Reserve’s new payment rails.

ASHEVILLE, N.C. — Federal Reserve Vice Chair for Supervision Michelle W. Bowman told bankers Monday that the central bank’s priority is shifting toward supporting a fragile labor market while maintaining vigilance on inflation — a stance she said should help financial institutions navigate slowing growth and evolving credit risks.

NEW YORK—Cyberattacks are rising in frequency and cost, putting Fis and fintechs— with their vast data stores and interconnected networks — squarely in hackers’ sights, PYMNTS points out, adding that a key defense for the industry is at risk.

SPOKANE, Wash.—The $5-billion Numerica Credit Union is putting veterans at the center of its newest community investment, committing $1 million over the next decade to support local veterans, active-duty military, and their families.