It would be easy to look at the Republican victory in nullifying the CFPB's mandatory arbitration rule as a sure sign that the political clout of the agency is weakening and that it's just a matter of time before it's defanged and powerless. But that's not the case at...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
Debating Where Tech Will Take Finance
After the credit crisis of 2008-09, former Federal Reserve Chairman Paul Volcker quipped that the only important innovation the financial industry had come up with in the prior 20 years was the automated-teller machine. Now almost everyone is walking around with a...
Bipartisan Reg Overhaul Bill Still Possible Despite Setback
A key Senate Democrat said he intends to maintain the push for bipartisan banking regulation overhaul legislation even though talks between Senate Banking Committee leaders have broken down. “I still believe we have an opportunity to negotiate a bipartisan...
CU Trades Praise Trump for Nullifying CFPB Arbitration Rule
President Trump Wednesday signed a resolution nullifying the CFPB’s rule governing the use of mandatory arbitration agreements—a move that was immediately praised by credit union trade groups. “We appreciate President Trump and Congress for their...
Number of Leagues Joining CUNA’s Equifax Suit Rises Again
At least eight credit union leagues from all over the country are now plaintiffs in CUNA’s recent lawsuit against Equifax over the credit bureau’s huge data breach that exposed personal financial information for millions of people. The Pennsylvania...
Shimmers Appearing at CU ATMs, Sources Say
ATM skimmers have become an unfortunate part of life for many credit unions, but another threat is now hitting CUs as well: illicit EMV card readers called “shimmers.” A shimmer, when inserted into the mouth of an ATM card-acceptance slot, sits...