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ARLINGTON, Va.—Total consumer credit grew 2.5% in July at a seasonally-adjusted, annualized rate and is up 4.9% compared to a year ago, according to new data. Total consumer credit at credit unions grew 0.6% in July.

PITTSBURGH–In part II of this newest installment, CUToday.info’s industry-leading and ongoing updates on mergers in credit unions finds one merging CU with double the net income of the acquiring CU, two CUs representing $105 million in total assets merging into the same CU (and using the same language in their messages to members), and one CU with approximately $4,400 in capital per member saying there will be no net worth distribution as part of its planned merger.

PURCHASE, N.Y.— Artificial intelligence is reaching into all corners of financial services, and that obviously includes payments. Mastercard is reporting it has introduced a new solution that uses AI to generate a “risk score” for transactions to evaluate the legitimacy of the person on the receiving end of a digital payment.

WASHINGTON—Saying credit card interchange price controls, such as those included in the Credit Card Competition Act currently before Congress, will bring no benefits to consumers, a panel at NAFCU’s Congressional Caucus outlined their views on the “detrimental impacts” they said the legislation will have.

WASHINGTON—Two people from opposite sides of the political aisle offered their thoughts on the state of the country, American politics and the 2024 elections in comments to NAFCU’s Congressional Caucus.

WASHINGTON—Credit unions got another in-person presentation from the CEOs of CUNA and NAFCU on the proposed merger between the two trade groups to form a new organization called America’s Credit Unions.

MILWAUKEE, Wis. –The employee benefits CUSO InterLutions is reporting it has added 27 credit unions to its health plan solution called I-Care.

DUBAI, UAE—The fintech industry in the Middle East is growing rapidly and could triple by 2025, a new report suggests.

MASSENA, N.Y. – SeaComm Credit Union has made a $100,000 commitment to the “Great Care, Right Here Fundraising Campaign” to support the construction of the St. Lawrence Health (SLH) Regional Care Pavilion at Canton-Potsdam Hospital.