BOSTON-NAFCU President/CEO Fred Becker said his farewell to credit unions last week. Becker is retiring after 14 years as leader of the trade group, closing his career at NAFCU's Annual Conference & Exposition here. His predecessor, Ken Robinson, was also on hand for the meeting. Becker called on credit unions to remain true to their mission of serving members. The three-day meeting drew several thousand attendees to the Hynes Convention Center and included several dozen sessions on a variety of subjects. CFPB Director Richard Cordray told the meting credit unions are a model for his agency. For coverage, see page 18, as well as additional reporting at CUJournal.com.
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The move comes about a year after rising delinquency levels prompted SBA to raise lender fees and tightened underwriting standards in its flagship 7(a) program.
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Select ChatGPT users can now connect their bank accounts to the AI-powered chatbot for personal money management advice based on their financial history.
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Suncoast Credit Union moved from one-time identity checks to monitoring members for the life of the account. It says fraud losses fell more than a third.
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The $110 million settlement, which was mapped out last fall, requires Wells Fargo to establish a $100 million fund to provide downpayment and closing-cost assistance to eligible borrowers who live in or plan to buy a home in certain low- and moderate-income census tracts.
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Prashant Sharma, JPMorgan Payments' executive director of biometrics and identity solutions, spoke with American Banker about agentic commerce and how liability is shifting as a result of large language models.
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