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WASHINGTON--Ahead of acting CFPB Director Russell Vought's testimony before the House Financial Services Committee on Wednesday, America’s Credit Unions sent a letter to the panel urging regulatory relief for credit unions while outlining broader recommendations for reforming the CFPB.

LONDON—Federal Reserve Vice Chair for Supervision Michelle Bowman called for a broad modernization of bank regulation Monday, arguing supervisors must focus on material financial risks, tailor oversight to institutions' size and complexity, increase transparency and accountability, and support responsible innovation rather than impose unnecessary regulatory burdens.

WASHINGTON—Senate Democrats on Tuesday blocked debate on a $1.15 trillion National Defense Authorization Act, dealing a setback to Republicans' effort to advance President Donald Trump's defense agenda as disputes over the Iran conflict and federal spending derailed one of Congress' traditionally bipartisan bills, according to POLITICO.

SAN ANTONIO--SWBC Tuesday announced a new partnership with Covered Insurance Solutions, a leading digital insurance platform purpose-built for the mortgage industry.

MADISON, Wis.—The World Council of Credit Unions (WOCCU) and Visa said they have completed what they describe as one of the first cross-border digital remittance pilots connecting credit union cooperatives, allowing members of a U.S. credit union to send money directly to members of Guatemalan credit unions through debit cards.

WASHINGTON--Mortgage applications decreased 2.7% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending July 10.

WASHINGTON—Major banks are rapidly expanding the use of agentic artificial intelligence, deploying digital assistants that can work alongside employees and perform tasks with minimal human supervision as the race to adopt AI intensifies, according to Reuters.

WASHINGTON--The House passed bipartisan legislation addressing the end of penny production with a unanimous voice vote Tuesday, reported America’s Credit Unions, which noted it encouraged the chamber to pass the bill prior to the vote.