August, 2024 - America's Credit Unions

Credit union, bank legal challenge to new Illinois interchange law underway

News / August 16, 2024 / interchange / 2 minutes of reading

America’s Credit Unions and the Illinois Credit Union League joined with banking groups in filing a complaint in the U.S. District Court for the Northern District of Illinois that challenges the Illinois Interchange Fee Prohibition Act (IFPA). The American Bankers Association and Illinois Bankers Association are also involved in the legal challenge, which seeks a …

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Bakari Sellers to Address America’s Credit Unions Congressional Caucus

News / August 16, 2024 / 1 minute of reading

Bakari Sellers, a former member of the South Carolina House of Representatives, distinguished political commentator, attorney, and a two-time New York Times bestselling author, will be the closing keynote speaker at America’s Credit Unions’ Congressional Caucus. The event will be held from September 8-11 in Washington, D.C., providing credit union professionals the opportunity to engage …

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Upcoming Fed webinar covers instant payments

News / August 16, 2024 / 1 minute of reading

The Federal Reserve Bank of Cleveland will host a webinar August 21 featuring a panel of Federal Reserve payments professionals. Their conversation will cover connecting to instant payments, the role of core banking service providers, and the benefits instant payments systems offer to financial institutions and their customers. It is free, but registration is required. …

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Bank and Credit Union Groups Join Forces to Challenge New Illinois Law Restricting Interchange Fees

Press Release / August 15, 2024 / 6 minutes of reading

WASHINGTON — The American Bankers Association today joined the Illinois Bankers Association, America’s Credit Unions and the Illinois Credit Union League in filing a complaint in the U.S. District Court for the Northern District of Illinois challenging the Illinois Interchange Fee Prohibition Act (IFPA). The IFPA, which was signed into law on June 7, would ban …

Bank and Credit Union Groups Join Forces to Challenge New Illinois Law Restricting Interchange Fees Read More »

Bakari Sellers to Address America’s Credit Unions Congressional Caucus

Press Release / August 15, 2024 / 2 minutes of reading

Bakari Sellers to Address America’s Credit Unions Congressional Caucus Read More »

Four state primaries bring credit union wins

News / August 15, 2024 / elections / 1 minute of reading

This week’s primary elections saw all credit union-supported candidates win in Connecticut, Minnesota, Vermont, and Wisconsin. Of note, America’s Credit Unions and Minnesota Credit Union Network-backed Kelly Morrison won the Democratic primary for the open seat in Minnesota’s 3rd Congressional District. Morrison next faces Republican Tad Jude in November for the seat left open by …

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Consumer Price Index rose 0.2% in July

News / August 15, 2024 / economics / 1 minute of reading

The Consumer Price Index increased 0.2% on a seasonally adjusted basis, after declining 0.1% in June, the U.S. Bureau of Labor Statistics reported Wednesday. “Overall Inflation fell below 3% in July for the first time in over three years. Monthly increases in both all items and core prices were consistent with expectations,” said America’s Credit …

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We have a hit on the OFAC List. Now what?

Compliance / August 15, 2024 / 4 minutes of reading

We often receive questions from credit unions regarding whether they have a genuine “hit” or “false positive” match on the Office of Foreign Assets Control’s (OFAC) Specially Designated Nationals and Blocked Persons List (“SDN List”). While interdiction software can generally spot name variations and filter out many incorrectly flagged “hits,” resolving the “gray areas” often …

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ICYMI: America’s Credit Unions ready to assist with lawmaker meetings amid August recess

News / August 15, 2024 / caucus / 1 minute of reading

America’s Credit Unions encourages credit unions to reach out to their state Leagues and the America’s Credit Unions Advocacy Team for assistance in arranging meetings with lawmakers and access to advocacy resources amid the August recess. Having lawmakers back home provides credit union advocates with opportunities to meet with key decision-makers and address issues of concern face-to-face …

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Feedback sought on NCUA’s succession planning proposal

News / August 14, 2024 / ncua / 1 minute of reading

America’s Credit Unions’ latest Regulatory Comment calls for credit unions to submit feedback on the NCUA’s proposed rule on succession planning. Comments can be sent to America’s Credit Unions by Sept. 9 and are due to the agency by Sept. 23. Legacy CUNA members can submit comments here, legacy NAFCU members can submit comments here. …

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August 2024