Matz offers apology, fuller clarification of statement made during testimony

CU Today reports that NCUA Chairman Debbie Matz has issued a statement following her testimony before Congress that seeks to clarify her response to one congressman’s question. Matz’s statemen includes: “During my testimony in Congress yesterday (Thursday), I emphasized the importance of NCUA being an independent financial regulator which protects the deposits of credit union […]

Forbes column blasts banks attacks on credit unions

Credit unions received a good placement Thursday in Forbes when Ryan Ellis posted a column calling the bankers attacks on credit unions dishonest. He specifically references a recent op-ed column from Florida Bankers Association CEO Alex Sanchez in the Wall Street Journal and American Bankers Association CEO Frank Keating referencing the NFL dropping its non-profit […]

Fed seeks comments on adopting NACHA same-day rule

The Federal Reserve board has issued a request for comment regarding proposed changes to its current same-day automated clearinghouse (ACH) payments rules. The Federal Reserve Banks propose to incorporate NACHA-The Electronic Payments Association’s recently adopted same-day ACH operating rules into Operating Circular 4, which governs Reserve Banks’ ACH service. The Fed currently operates a same-day […]

A Realistic Look at EMV | Part 1: Cost Versus Fraud

The noise continues to increase inside the payment sphere about the looming EMV liability shift deadline in October of 2015. However, we have noticed that the majority of media coverage is based on the assumption that most financial institutions will adopt EMV technology by this date. Although the adoption makes sense from a speed and […]