Ray Birch

WASHINGTON— Open banking may no longer be a looming regulatory requirement for most credit unions—but ignoring it could still prove costly.

NEW YORK— The reported interest by several of the nation's largest banks in acquiring Fiserv's debit card network has largely been viewed as another chapter in the long-running battle over interchange fees and the Durbin Amendment.

MADISON, Wis.—One of the fastest-growing threats to credit union deposits may not be fintechs, challenger banks or cryptocurrency. It may be sports betting.

SANTA CLARA, Calif.--For many credit unions, the cost of collecting an auto loan payment seems straightforward. There are ACH fees, debit card processing costs and other transaction charges that appear neatly on processor invoices and general ledgers.

MADISON, Wis.— Six weeks after TruStage discovered the cyberattack that forced much of its technology environment offline, significant portions of its operations are returning—but for some credit union members and other consumers, the disruption is still being measured in missed insurance payments, inaccessible retirement money, delayed disability benefits and difficulty collecting on life insurance policies following the death of a family member.

MADISON, Wis.—The cyberattack that has disrupted TruStage for nearly seven weeks affected not only its primary operating environment but portions of the backup infrastructure the company expected to use for recovery, President and CEO Terrance Williams told credit union partners in a new update.

NEW YORK—The federal government’s decision to permanently free U.S. businesses from Corporate Transparency Act (CTA) reporting gives credit unions an opportunity to deliver some welcome news to business members—but it does not eliminate credit unions’ own obligation to identify the people behind the businesses they serve.

DALLAS— As banks and fintechs race to turn financial services into subscription businesses, promising everything from premium checking and insurance discounts to travel perks and buy-now-pay-later benefits for a monthly fee, Brian Scott sees a fundamental question many institutions have yet to answer: Would members actually pay for the privilege of banking with them?

PITTSBURGH—Nearly half of U.S. banks are showing year-over-year deterioration in credit quality even as industry profits, lending and deposits continue to climb, according to a new BlastPoint analysis of second-quarter FDIC data.

LARAMIE, Wyo.— For many small credit unions, artificial intelligence is still viewed as a future investment. At StagePoint FCU, it has quietly become the operating system behind much of the organization, automating everything from vendor management and fraud tracking to HR, IT ticketing and, soon, complex accounting reconciliations.