Blog
- How to Establish Credit in the Hispanic and Latino Community
October 11, 2022Hispanic and Latino families in the U.S. continue to face a variety of challenges when it comes to establishing financial well-being. There are continued, systemic barriers to wealth building, such as labor market discrimination, which result in Hispanic and Latino families being less likely than white families to own assets such as homes, businesses and retirement accounts. But credit unions can aid these consumers ...
- National Credit Union Foundation Announces New Financial Well-Being Grants
October 11, 2022The National Credit Union Foundation (the Foundation) has announced two new grant opportunities to bolster credit unions’ ability to offer financial coaching and combat hunger.
- U.S. Banks Cut Giving to Federal Candidates, Up Democrats' Share Ahead of Mid-Terms
October 11, 2022U.S. banks are giving far less to federal candidates this election cycle and increasing the proportion they are handing to Democrats as they rethink their political giving, according to a Reuters analysis of data compiled by the Center for Responsive Politics (CRP) and more than half a dozen industry officials and lobbyists.
- OCC's Hsu Warns Against Commingling Banks and Crypto
October 11, 2022Acting Comptroller of the Currency Michael Hsu warned against crypto firms integrating with the traditional financial system, saying that crypto companies often "disguise" their products as being similar to banking ones.
- Stverak to Congress: Interchange Bill 'Wholly Inappropriate' for NDAA
October 7, 2022Attaching the Credit Card Competition Act to the Senate FY23 National Defense Authorization Act (NDAA) is inappropriate, CUNA Deputy Chief Advocacy Officer Jason Stverak wrote to all 535 Congressional offices Thursday.
- Committee Formed to Provide Guidance to FSOC on Climate-Related Financial Risks
October 7, 2022The Financial Stability Oversight Council (FSOC), of which NCUA is a member, has been newly charged with providing advice on climate-related financial risks to federal financial institution regulators. FSOC’s new Climate-related Financial Risk Advisory Committee (CFRAC) will help to improve the collective understanding of how climate change may impact the financial sector.
- Biden Offers Pardons for Pot Possession, Signals Deeper Reform for U.S. Cannabis Laws
October 7, 2022President Joe Biden is pardoning people convicted under federal law of possessing marijuana — and signalling that he's willing to revisit whether cannabis should remain a controlled substance in the United States.
- What the White House's Blueprint for an AI Bill of Rights Means for FIs
October 7, 2022The White House has published an AI Bill of Rights that instructs financial institutions and other companies on the kinds of consumer protections they need to build into their artificial intelligence-based programs.
- Fed Warns That Custodia Suit Could Upend 'Careful Balance' of Authority
October 7, 2022The Federal Reserve is using Custodia Bank's own marketing materials to refute the company's claim that it poses no new risks to the central bank's payment system. The Fed pointed to Custodia press releases in which the Wyoming-chartered institution describes itself as a "first-of-its-kind digital asset bank" and details its plan to launch a stablecoin as evidence that the firm's business model warrants more time to scrutinize than that of a traditional bank.
- House Republicans Challenge Fed's Ability to Create CBDC Without Congress
October 6, 2022A group of Republicans on the House Financial Services Committee have asked Attorney General Merrick Garland for the Department of Justice's analysis on legislation to create a central bank digital currency.