First-responder Credit Union Newsroom

BOSTON–Fraud threats facing credit unions are becoming more sophisticated and pervasive as digital banking expands and artificial intelligence tools enable increasingly complex attacks, according to new research and analysis from PYMNTS Intelligence .  The report said fraud has evolved from isolated incidents into a “persistent, systemwide threat” that affects every stage of the member journey, from onboarding and authentication to transactions and account servicing.  According to the report, fraudsters are increasingly using coordinated, multichannel schemes that challenge traditional fraud detection and response systems. PYMNTS Intelligence said attackers are no longer exploiting single vulnerabilities but are instead orchestrating broader campaigns involving impersonation, credential theft and unauthorized transfers.  The Findings Among the report’s findings, according to PYMNTS: One in 10 consumers encountered card fraud during the past year. Most fraud incidents occu...

  WASHINGTON–By a voice vote, the Senate Banking, Housing, and Urban Affairs Committee has advanced to the Senate floor the nomination of John Crews to become the next chairman of NCUA. John Crews “Credit unions thank Chairman Scott and the members of the Senate Banking Committee for advancing John Crews nomination to the NCUA Board,” America’s Credit Unions Chief Advocacy Officer Kathleen Coulombe said in a statement. “We appreciate that the Committee recognizes a robust credit union industry requires a fully staffed NCUA Board and John Crews possesses the necessary experience and knowledge to efficiently lead the NCUA. We urge the Senate to quickly vote to confirm his nomination.” About John Crews Crews is the assistant secretary for financial institutions policy in the Treasury department. Crews was appointed to the position in mid-2025 and has a long history in Washington. Prior to joining the Treasury Department, he served as a policy advisor to Majority Leader Rep. Steve Scal...

   Unemployment 101    For millions of Americans , the prospect of becoming unemployed is a persistent source of financial anxiety. The US unemployment rate, or the percentage of people in the labor force who are actively looking for work but aren't currently employed, has long been considered an economic bellwether. Many economists agree that a rate between 4% and 5% is considered healthy. As of June 2026, the US unemployment rate was 4.2%. > Learn how the unemployment rate is calculated. ( More ) > The US Bureau of Labor Statistics' monthly jobs report tracks the unemployment rate and more. ( More ) Americans who are unemployed for up to 26 weeks ...

Most adults can safely drink  up to five 8-ounce cups of black coffee per day, and regular consumption may improve cardiovascular health, the American Heart Association said yesterday. An analysis of recent studies suggests that consuming about 400 milligrams of caffeine daily may lower the risk of Type 2 diabetes, stroke, heart disease, and heart failure. However, because most research is observational, scientists are still unsure why caffeine may benefit heart health. Some studies suggest antioxidants  in coffee help reduce inflammation, indicating not all caffeine sources offer the same effects. Synthetic caffeine products, such as energy drinks, have been linked to a higher risk of high blood pressure and irregular heart rhythms. Coffee's benefits also diminish when sugar and high-fat creamers are added.  Brewing methods may matter, too. Cardiovascular benefits have been linked most strongly to paper-filtered or instant coffee. Unfilter...

BOSTON — Consumers facing financial pressure are increasingly turning to digital wallets not only for convenience, but also as a way to better manage their household finances, according to a new report from PYMNTS Intelligence . The report, titled “ The New Checkout: Crimped Consumers Lean Into Online Retail and Digital Wallets, ” is based on a survey of 2,108 U.S. adults and found digital wallet adoption is growing fastest among younger consumers and those experiencing financial stress. According to PYMNTS Intelligence, digital wallets are evolving beyond simple payment tools by offering features such as buy now, pay later options, real-time balance information and spending management tools that help consumers monitor their finances. Source: PYMNTS Intelligence Among consumers experiencing high financial stress, 28% said they used a digital wallet for their most recent retail purchase, compared with 11% of consumers reporting low financial stress. For grocery purchases, 21% of financi...

WASHINGTON — U.S. consumer inflation cooled more than expected in June, offering relief after several months of elevated price pressures, though economists cautioned the improvement could prove temporary as renewed geopolitical tensions threaten to push energy prices higher. The Consumer Price Index fell 0.4% in June on a seasonally adjusted basis, the largest monthly decline since April 2020, after rising 0.5% in May, according to data released Tuesday by the Bureau of Labor Statistics . Compared with a year earlier, consumer prices rose 3.5%, down from 4.2% in May.  Foot off the Gas Dawit Kebede “Falling gas prices led June’s decline and pulled headline inflation lower year-over-year. Renewed hostilities could complicate the energy picture ahead, and a reversal in gasoline costs would be the most likely channel for that pressure to show up,” said America’s Credit Unions Senior Economist Dawit Kebede. “But softening core prices point to broader-based moderation, suggesting the ea...

WASHINGTON — The bipartisan 21st Century ROAD to Housing Act became law Friday without President Donald Trump’s signature after the president allowed the measure to take effect while Congress remained in session, choosing not to sign it in protest over the Senate’s failure to advance separate voter identification legislation.  The legislation includes the Credit Union Board Modernization Act, which reduces the frequency with which credit unions must meet and which had strong support from the credit union trade groups.  Trump announced on social media that he would not sign the housing package because the Senate had not passed the SAVE America Act, a measure he has championed requiring proof of citizenship for voter registration. Under the Constitution, a bill becomes law if the president neither signs nor vetoes it within 10 days, excluding Sundays, while Congress is in session.  Scott Simpson ‘Steadfast in Commitment’ “America’s Credit Unions, our league partners, and cr...

 

NEW YORK—Artificial intelligence is rapidly becoming the defining force shaping banking strategy, with 80% of banking executives now expecting AI to significantly disrupt their business and operating models within the next three to five years, according to KPMG's 2026 Banking Technology Survey. The survey of 200 U.S. banking executives found institutions are responding by accelerating investments in cybersecurity, payments modernization and technology-driven acquisitions. "AI, payments modernization, cybersecurity, and tech-driven M&A are no longer separate agendas," said Peter Torrente, KPMG's U.S. Banking Sector Leader, who said banks are increasingly being challenged to keep pace across technology, risk and growth simultaneously. Cybersecurity remains a top concern. More than three-quarters (76%) of banking leaders reported an increase in cyberattacks over the past year, while 92% said they are boosting cybersecurity budgets. In addition, 84% are increasing cyb...