NAFCU, CU groups warn against harmful interchange legislation

With the anticipated reintroduction of legislation sought by big-box retailers to expand interchange requirements to credit cards, NAFCU, the Defense Credit Union Council, and CUNA are joining together this morning to warn congressional leaders of the legislation’s harmful impacts on consumers and credit unions.

NAFCU, trades write to FCC on robotexts, robocalls

NAFCU joined with several trades on a letter to the Federal Communications Commission (FCC) in response to its proposal regarding robocalls and robotexts. The proposal would restrict the ability of entities to obtain a consumer’s single consent and use it as the basis for multiple callers to place marketing calls to the consumer, apply the national “Do Not Call” registry’s restrictions to texts, and require carriers to investigate and potentially block a sender transmitting suspected illegal texts when notified by the FCC.

Happening today: Berger live on American Banker

NAFCU President and CEO Dan Berger is set to discuss the credit union difference and how the industry continues to innovate and expand market share with American Banker’s Frank Gargano today at 2 p.m. Eastern.

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NAFCU Cybersecurity and Payments Committee talks FedNow, Nacha

NAFCU's Cybersecurity and Payments Committee met Tuesday to discuss the latest updates on the Federal Reserve’s FedNow service and the National Automated Clearinghouse Association’s (Nacha) recent request for comment.

CFPB flags downsides of AI chatbots

The CFPB Tuesday released an issue spotlight on how chatbots used within the financial services industry may impact the customer service experience. The bureau found AI chatbots are increasingly being used by financial institutions for cost-savings; and its report estimated roughly 37 percent of Americans have used a bank’s chatbot.

Applications for CUAC membership open July 3

The CFPB is soliciting membership applications for its Credit Union Advisory Council (CUAC). The bureau’s advisory committees include representatives of consumers, diverse communities, the financial services industry, academics, and economists. Appointments to the committees are generally for two years; the bureau expects to announce the selection of new members in fall 2023.