McCarthy removed as House Speaker

Members of the House Tuesday voted to remove Rep. Kevin McCarthy, R-Calif., as speaker of the chamber, 216-210. McCarthy is the first speaker to be removed from the post in U.S. history.

SCOTUS hears arguments on CFPB’s funding constitutionality

The U.S. Supreme Court yesterday heard oral arguments in the CFPB v. CFSA case. In July, NAFCU, CUNA, and the American Association of Credit Union Leagues (AACUL) filed a joint amicus brief in support of CFSA, urging the court to uphold the U.S. Fifth Circuit Court of Appeals ruling that the CFPB’s funding structure is unconstitutional.

NAFCU calls on CFPB to be transparent about AI usage

NAFCU Senior Counsel for Research and Policy Andrew Morris wrote to CFPB Director Rohit Chopra calling on the bureau to be more transparent about potential supervisory use of artificial intelligence (AI) and machine learning (ML). Morris highlighted that the CFPB has revealed an intent to leverage AI within the supervisory prioritization process but has failed to provide information about its specific use. 

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Last chance to join Ecority’s application for Greenhouse Gas Reduction Fund

In response to overwhelming interest, Ecority – an independent nonprofit established to leverage and scale the $27 billion EPA-administered Greenhouse Gas Reduction Fund (GGRF) – has reopened the opportunity for credit unions to indicate their interest in supporting Ecority’s GGRF application through Sunday, Oct. 8.