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WASHINGTON— House Republicans on Wednesday unveiled a two-bill push to create a national data privacy framework, pairing the broader SECURE Data Act with the GUARD Financial Data Act, which would rewrite parts of the Gramm-Leach-Bliley Act to modernize how banks and other financial institutions collect, share and protect customer information.

WASHINGTON— Fannie Mae and Freddie Mac said Wednesday they are beginning the next phase of the federal government’s long-running credit score modernization effort, with both government-sponsored enterprises moving to accept mortgage loans evaluated using VantageScore 4.0 through limited rollouts with approved lenders, while laying the groundwork for future use of FICO Score 10T.

WASHINGTON— As the Senate prepared Wednesday to vote on amendments to its FY2026 budget resolution, America’s Credit Unions urged lawmakers to reject any proposal that would weaken the credit union tax exemption, warning such a move would undercut credit unions’ ability to help consumers manage rising affordability pressures.

WASHINGTON—Treasury Secretary Scott Bessent defended the Trump Administration’s proposed deep cuts to the Community Development Financial Institutions Fund on Wednesday, telling senators the program had “lost its way” and accusing parts of it of pursuing a “partisan agenda,” even as lawmakers from both parties pressed him to explain why the administration wants to slash a program many view as critical to underserved and rural communities, American Banker reported.

WINSTON-SALEM, N.C.— Truliant Federal Credit Union and Piedmont Advantage CU here have signed a definitive agreement to merge, a combination that would create a larger regional cooperative with more than 360,000 members and approximately $6 billion in assets, according to CityBiz.

DETROIT— Credit unions may need to pay closer attention to a simple but increasingly important signal coming from the banking side: even as the industry keeps closing branches overall, some of the nation’s biggest banks are still spending heavily to build, optimize and selectively acquire physical locations—underscoring, in the view of veteran attorney Michael Bell, that branches still matter more than many in the CU space may want to admit.