The National Credit Union Administration’s defense of changes to a field-of-membership rule was challenged by a federal judge on Wednesday, suggesting an American Bankers Association lawsuit against the revisions may be successful.
Financial institutions and retail companies are trading barbs over which industry poses greater risk to sensitive customer information just as lawmakers are planning to take another stab at a data security bill.
The National Association of Federally-Insured Credit Unions and the Credit Union National Association sent a joint letter to Sen. Orrin Hatch on Wednesday defending the credit union charter and its tax status.
Four financial trade associations sent a letter to Senate leaders touting the regulatory relief bill as "example of how our elected leaders can advance necessary solutions by working together and across the aisle."
If Congress doesn’t take the lead on protecting consumers from data breaches, states are more than ready to offer their own fixes. Bankers will also be keeping close tabs on bills related to marijuana, PACE loans and elder financial abuse.