America’s Credit Unions—as part of a coalition representing nearly 10,000 financial institutions in all 50 states—launched a new campaign to highlight united opposition against big box bailout interchange legislation. The Electronic Payments Coalition campaign uses digital displays and video ads to focus on the negative impact this legislation would have on credit unions and community …
America’s Credit Unions’ Andrew Morris wrote to the CFPB in response to its proposed rule designating certain nonbanks offering “general-use digital consumer payment applications” as larger participants subject to the bureau’s supervisory jurisdiction. Morris offered the association’s general support for the rule, in addition to outlining several recommendations. “Consumers benefit from innovation that offers …
America’s Credit Unions’ Amanda Smith wrote to the NCUA on its proposed rule to enact the Fair Hiring in Banking Act (FHBA). The bill, passed as a part of the fiscal year 2023 National Defense Authorization Act, would replace a lifetime ban for those with disqualifying convictions to work in the banking sector and create an …
The Federal Trade Commission (FTC) should avoid subjecting not-for-profit, well-regulated state credit unions to its proposal against unfair or deceptive practices related to fees for goods or services, America’s Credit Unions wrote to the agency Monday. The FTC’s proposal—which targets bad actors who misrepresent the nature of certain fees—acknowledges it does not hold jurisdiction over …
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