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DETROIT—For nearly two decades, the conversation around bank-credit union acquisitions has largely flowed in one direction. But there is another path available under federal law—one that remains largely untouched even among seasoned industry observers.

WASHINGTON--The Defense Credit Union Council has submitted formal comments to the Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) and the NCUA in response to a proposed rule implementing provisions of the Anti-Money Laundering Act of 2020 (AML Act) and modernizing AML/CFT program requirements.

WASHINGTON—Mortgage lenders are rapidly embracing artificial intelligence across the loan lifecycle, but federal law still effectively requires a human mortgage loan originator to remain involved in the origination process, according to a new Mortgage Bankers Association white paper prepared by law firm Orrick, Herrington & Sutcliffe.

BOSTON—On Monday, June 15, Defense Credit Union Council Chief Advocacy Officer Jason Stverak will provide official testimony to the Massachusetts Special Study Commission during its fourth “Special Legislative Commission to Study the Future of Payments and Sales Transactions by Credit Card and the Impacts for Small Businesses” hearing in Room A1 of the State House in Boston.

WASHINGTON— In primary elections across four states Tuesday, 10 Congressional candidates backed by America’s Credit Unions PAC successfully won their party nomination and advanced to November’s General Election. In addition, Rep. Young Kim (R-CA), who America’s Credit Unions PAC supported with an independent expenditure in direct mail and digital ads, advanced to the general election in a newly drawn district.

NEW YORK—New York regulators on Tuesday unveiled proposed changes to the state's stablecoin rules to align them with upcoming federal requirements governing state-supervised stablecoin issuers, Law360 reported.

EDWARDSVILLE, Ill.—Revity Credit Union has awarded $10,000 in scholarships to four local high school seniors through its 2026 College Scholarship Program, recognizing students for their academic achievements, dedication and future career aspirations. Each student received a $2,500 scholarship.