Business groups file suit to nullify CFPB arbitration rule

Credit unions have rallied against the CFPB’s recent arbitration rule, and now business groups, including the American Bankers Association and the U.S. Chamber of Commerce, have filed suit asking that the agency be prohibited from enforcing the rule until its constitutionality can be determined. The CFPB rule prohibits financial institutions and others from including clauses […]

Study shows rewards cards override cash

A study by Paysafe details that cash is evolving in an increasingly mobile age, and results point to a distinctive move away from cash transactions, particularly by millennials, but with increasing use in older generations, as well. Called “Lost in Transaction,” the study asked questions of 3,000 individuals across the United States, the United Kingdom, […]

CUNA holds webinar today on legal rights after Equifax breach

CUNA will be filing a lawsuit against Equifax and is holding a member-only call today at 4 p.m. ET to discuss your legal rights in the wake of the breach, including potentially joining the litigation. The Equifax breach has harmed and will continue to harm credit unions and their members. Hackers had access to highly sensitive personally […]

SECUF holds $5,000 raffle fundraiser

Credit unions throughout Florida and Alabama stepped up to help each other and our members in the aftermath of Hurricane Irma, demonstrating once again the cooperative spirit of people helping people. Now, many credit union staff and volunteers throughout Florida are working through the recovery process utilizing grants from the Southeast Credit Union Foundation (SECUF). In an […]

Estimated damage and economic impact of Harvey and Irma

The combined destruction of property from hurricanes Irma and Harvey could range from $150 billion to $200 billion, according to a preliminary estimate from Moody’s Analytics. Both in property damage and lost output, the Moody’s estimate puts the combined costs of the two catastrophic storms on par with Hurricane Katrina. Moody’s had previously estimated the total […]

President’s Point: CUNA responds to Equifax breach and more

CUNA continues to show leadership on behalf of our industry and members.  Never has it been more important for credit unions, leagues, and CUNA to work closely together. Last Friday, CUNA announced it would be filing a lawsuit to protect credit unions and their members from harm as a result of the Equifax data breach. I applaud CUNA for taking leadership in filing […]