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Why Does U.S. Lead World in Credit Card Fraud?

Meanwhile, a handful of banks and credit unions have started issuing EMV cards to select customers, primarily American travelers who have run into trouble with magnetic stripe credit card acceptance abroad. Last August, Visa announced an **** READ MORE: Why Does U.S. Lead World in <b>Credit</b> Card Fraud?:

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Reuters: Trump Regulators Launch Biggest Bank Oversight Overhaul Since 2008

Is NCUA next? WASHINGTON—Federal banking regulators under President Trump are undertaking what Reuters described as the most significant overhaul of bank supervision since the 2008 financial crisis, shifting examiner focus away from process and compliance issues and toward what agencies consider “material” financial risks. According to Reuters, the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. have directed examiners to concentrate on risks that pose direct threats to a bank’s safety and soundness, rather than on paperwork deficiencies, governance concerns or procedural issues that do not immediately affect financial stability. Reuters reported that regulators have also moved away from evaluating banks based on “reputational risk,” a supervisory concept long criticized by banks as overly subjective. The change follows complaints from President Trump and others that financial institutions have used reputational-risk considerations...
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Hauptman Tells Congress CU Health is Strong; Responds to Questions from Committee

WASHINGTON — National Credit Union Administration Chairman Kyle Hauptman told members of the House Financial Services Committee on Thursday that the nation’s credit union system remains financially strong, while warning that rising delinquencies and consumer financial stress continue to warrant close monitoring. Hauptman also responded to a handful of questions from members of Congress, as well. Hauptman appeared as part of the regular hearings on Oversight of Prudential Regulators. Also appearing as witnesses were Michelle Bowman, vice chair for supervision with the Federal Reserve; Travis Hill, FDIC chairman, and Jonathan Gould, the acting Comptroller of the Currency. Kyle Hauptman In his prepared statement, Hauptman said federally insured credit unions remain well-capitalized and continue to meet members’ borrowing needs despite economic headwinds. He said the NCUA is focused on maintaining safety and soundness, protecting the National Credit Union Share Insurance Fund and creating...
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Sunday Reading - Changing the Map

  Changing the Map     Redistricting, explained Congressional redistricting is the process by which states redraw electoral district boundaries   that determine representation in the US House of Representatives. The Constitution, federal law, and court rulings require districts to have roughly equal populations, avoid discrimination against racial or language minorities, and, in most states, be geographically contiguous. For most of American history, redistricting has followed a predictable cycle, occurring every 10 years after the census.   Gerrymandering is the deliberate manipulation of district boundaries to advantage one political party. Common tactics  by both major American political parties include packing opposition voters i...
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Letter to Credit Unions Says NCUA Exam Modernization Now Underway

ALEXANDRIA, Va.—NCUA has sent a Letter to Credit Unions ( 21-CU-08 ) detailing the agency's transition to modernized systems. The agency said it will begin this transition in August. NCUA’s efforts will include the implementation of emerging and secure technology that supports the NCUA’s examination, data collection, field of membership, and reporting efforts. “These new applications will streamline processes and procedures and provide significant benefits to credit union users,” NCUA said. Key areas affected: NCUA Connect Admin Portal Consumer Access Process and Reporting Information System (CAPRIS) 1 Modern Examination & Risk Identification Tool (MERIT) Data Exchange Application (DEXA) Training Available To prepare credit unions for the transition to these new systems, NCUA said it will provide credit union user training through various avenues, including: A self-paced training curriculum covering MERIT functionality available through the NCUA’s Learning Management Service An...
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Trump Accounts Program For Children Moves Forward With New Mobile App Launch

  WASHINGTON—The Treasury Department on Thursday announced the launch of the new Trump Accounts mobile app, marking the next phase of the Administration’s rollout of its new federally backed investment savings program for children ahead of the program’s official July 4 launch date. Donald Trump The app, now available through major mobile app stores, will serve as the primary platform for families to manage and activate Trump Accounts. Treasury Secretary Scott Bessent said the app is intended to give parents and guardians a “simple, secure way” to participate in the program, which was created under the 2025 Republican tax-and-spending package. Families that already submitted IRS Form 4547 to enroll children in the program will begin receiving phased activation emails between now and July 4, according to Treasury. Under the program, eligible children born between Jan. 1, 2025, and Dec. 31, 2028, can receive a one-time $1,000 federal seed contribution into a tax-deferred investment ac...
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Cheer Up and Change: "Wait and see is not a plan."

I posted this a year ago and thought I would bring it back to see if any of his predictions came true. Take a look and tell us what you think. Grant Sheehan CEO Cheer Up and Change: The Demographic Mandate At a conference I recently attended Monday morning started off with a great session by demographer and futurist Ken Gronbach, who laid out his predictions on where we’re going and what we can expect as demographics change. I was pleasantly surprised that the future isn’t sounding as bleak as the news might have you believe. Gronbach offered lots of predictions for where our society and our world is headed. His predictions were given with a purpose: To help associations build their vision and plan for the future. As Gronbach stressed,  "Wait and see is not a plan." I’ve decided to arrange this recap into a list of my takeaways rather than a narrative recap. I hope you get as much out of this information as I did! Things to Expect: Big Changes in Retail : Gronbach ...
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IRS Reporting Proposal Scaled Back, but Still 'Flawed'

On Tuesday, Senate Democrats distributed an update to the controversial IRS reporting requirements that the credit union industry has been very vocally opposed to since it was unveiled in late June. According to the updated proposal rolled out Tuesday, it would require financial institutions to report inflows and outflows of personal and business accounts, as well as transfers between accounts of the same owner, if it is more than $10,000 per year. The proposal floating around for the past four months had the threshold at $600 per year. The requirements do not apply to payroll deposits for wages or to those receiving Social Security benefits. In response to the updated IRS reporting proposal, NAFCU President/CEO Dan Berger said, “It has become abundantly clear that Americans oppose the IRS obtaining additional information on their financial accounts. The updated plan is nothing more than window dressing in an attempt to shore up support for a flawed proposal. Instead of creating financ...
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Proposed FOM changes would streamline ability to reach underserved

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Mortgage Rates Decline to Their Lowest Levels Since April

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IRS Reporting Requirement Has Turned Into Uphill Battle for CUs

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