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WASHINGTON–A new name has surfaced as a potential appointee to the NCUA board. Former NCUA Board Member Geoff Bacino said Senate Minority Leader Chuck Schumer (D-NY) is considering former NCUA Public and Congressional Affairs head Todd Harper as the Democratic nominee. The seat, formerly held by Debbie Matz, would only have three years left on it.

In February, the U.S. Government Accountability Office (GAO) published a report to Congress based on reports of businesses and residents of Southwest border communities whose financial services were terminated—and in some cases whole branches closed—due to the perceived Bank Secrecy Act risk. 

NEW YORK–Forbes has released its first-ever listing of “Best In-State Banks and Credit Unions,” identifying one credit union as receiving the highest marks and saying that overall CUs outperformed banks on overall score.

WASHINGTON—CUNA has written in opposition to a provision in the House version of the National Defense Authorization Act (H.R. 5515) that would exclude credit unions from the current resources furnished to them on military bases.

PARIS—The Financial Action Task Force is planning to introduce new rules related to cryptocurrency exchanges this month. 

HARRISBURG, Penn.–PSECU here has signed a first-of-its-kind agreement with Harrisburg Academy that will help support student needs and create youth financial education opportunities.  

LANSING, Mich. — The partnership between LAFCU and the Perry, Mich. community was awarded the Innovation Award from Michigan Credit Union League (MCUL) at the trade association’s annual convention. 

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.

MIAMI –NYMBUS announced Inspire Federal Credit Union has selected NYMBUS to support its growth as it transitions from a legacy core provider to NYMBUS’ full suite of advanced core, digital, and payments solutions.

WASHINGTON–Credit unions should now be prepared for their examinations to include compliance with “customer due diligence” (CDD) requirements.