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WASHINGTON—House Chief Deputy Whip Patrick McHenry (R-NC) is calling postal banking "a terrible idea" and requested that President Donald Trump's special task force on postal reform issue a prohibition on any such programs, enhancements or expansions. McHenry’s views were shared in a letter sent to Treasury Secretary Steven Mnuchin.

BOSTON–With the recreational marijuana business now legal in Massachusetts—but with a dearth of financial institutions willing to serve the industry–the top federal prosecutor in the state has issued a statement saying his focus when it comes to cannabis will be on overproduction, targeted sales to minors and organized crime.

MENLO PARK, Calif.—In a theft described as “easier than robbing banks,” criminals are stealing more cryptocurrency from exchanges, and that’s driving growth in a cottage industry of services that allow for money laundering of coins, according to a new report.

WASHINGTON—Government-sponsored enterprise (GSE) Fannie Mae is starting a pilot program to offer an enterprise-paid mortgage insurance (EPMI) option – an alternative to the borrower-paid and lender-paid options currently available.

WASHINGTON—Consumer credit rose 7.6% in May – the fastest pace in six months.

AUSTIN, Texas–It’s official: attendance at the upcoming CUTomorrow Conference is now nationwide, with registrants from Hawaii to Maine now signed up.

NEW YORK–Kiplinger’s has published its rankings of America’s best banks and credit unions, naming its top two in each category.

BOSTON—Criminals are ramping up efforts to create synthetic IDs at financial institutions and then perpetrate fraud—as one CU that recently suffered $200,000 in losses can attest.

WASHINGTON—Credit unions created $15 billion in financial benefits to members and non-members alike during 2017, and overall contributed $116 billion in valued added or economic activity to the U.S. economy, according to a new white paper from CUNA. The paper was written as part of a broader perspective on the tax-exempt status of U.S. credit unions.

ARLINGTON, Va.—Almost half of the CU respondents to a new survey say their credit union has filed suspicious activity reports (SARs) "defensively.”