Credit Union News — August 2026
Credit union industry reporting published in August 2026.
- DCUC Annual Conference Wraps With Focus On Service, Leadership — AVENTURA, Fla.—The Defense Credit Union Council concluded its 2026 Annual Conference this past week after bringing together credit union leaders, advocates and industry partners from across the U.S.…
- Three Credit Union Leaders Honored At DCUC Hall Of Honor Gala — AVENTURA, Fla.--The Defense Credit Union Council held its 2026 Hall of Honor Gala during its Annual Conference this past week, honoring three exceptional credit union leaders: LtCol Clarence M.…
- U.S. Payrolls Fall 23,000 In July; Unemployment Holds at 4.1% — WASHINGTON—U.S. employers shed 23,000 jobs in July while the unemployment rate was little changed at 4.1%, the Bureau of Labor Statistics reported, offering further evidence of a weak labor market.…
- Senate Confirms John Crews To NCUA Board — WASHINGTON—The U.S. Senate, 51-47, has confirmed John Crews to the NCUA board, clearing the way for him to succeed Kyle Hauptman and return the agency to a single-member board following the Trump…
- KPMG Must Face Expanded Investor Fraud Claim Over SVB Collapse — SAN JOSE, Calif.—A federal judge has allowed investors in failed Silicon Valley Bank to expand their securities class action against KPMG LLP, finding they sufficiently alleged the accounting firm…
- CDFI Fund Eases Rural Certification Standard, Lowering Threshold To 60% — WASHINGTON--The Treasury’s Community Development Financial Institutions Fund (CDFI Fund) updated the Target Market activity thresholds for organizations interested in achieving or maintaining CDFI…
- Lenders Open Credit Spigot Wider, Even As Delinquencies Edge Higher — CHICAGO—U.S. lenders are becoming more aggressive about extending credit, with credit card originations climbing nearly 12% and personal loan originations nearly 20% as lenders increasingly pursue…
- DCUC Annual 2026 Concludes, Reinforcing the Credit Union Difference of Serving Those Who Serve — AVENTURA, F.L. – The Defense Credit Union Council (DCUC) concluded its 2026 Annual Conference Thursday, August 6, bringing together credit union leaders, industry advocates, and system partners from…
- DCUC Congratulates John Crews on Confirmation as NCUA Board Chair — WASHINGTON, DC – The Defense Credit Union Council (DCUC), a national association representing credit unions serving military and veteran communities, issues the following statement congratulating…
- DCUC Celebrates Three Distinguished Inductees During 2026 DCUC Hall of Honor Gala — AVENTURA, F.L. – On Wednesday, August 5, the Defense Credit Union Council (DCUC) held its 2026 Hall of Honor Gala during the DCUC Annual Conference, honoring three exceptional credit union leaders:…
- CU Student Choice Launches New Professional Degree Financing Solutions As Grad PLUS Loans Phase Out — WASHINGTON— CU Student Choice, the leading provider of education financing solutions for credit unions, Thursday announced the launch of new line of credit programs designed for students seeking…
- Chime Moves Beyond Banking With In-App Investing — SAN FRANCISCO— Chime is expanding beyond digital banking and into investing with the launch of Chime Invest, a commission-free platform that allows users to buy stocks and exchange-traded funds or…
- NCUA Liquidates African Diaspora FCU, Just Over Year After Granting Charter — SAINT ANN, Mo.—NCUA Thursday liquidated tiny African Diaspora FCU here, citing insolvency and numerous violations of the Federal Credit Union Act and NCUA regulations, including operating in an…
- Colorado Scales Back AI Law Ahead of 2027 Launch, While FTC Proposal Clouds Compliance Outlook — WASHINGTON—Colorado has significantly narrowed what was set to become the nation’s first comprehensive artificial intelligence governance law, replacing broad compliance mandates with a framework…
- Cloud Introduces Bill to Make Federal CBDC Ban Permanent — WASHINGTON—Rep. Michael Cloud (R-TX) has introduced legislation that would permanently prohibit the Federal Reserve from issuing or creating a central bank digital currency, according to Texas GOP…
- Filene, Money20/20 Partner to Expand Credit Union Access to Fintech — MADISON, Wis.—Filene Research Institute and Money20/20 have announced a strategic partnership aimed at giving credit union leaders greater access to the global fintech ecosystem while bringing the…
- Mortgage Rates Edge Up To 6.69% — MCLEAN, Va.—The average rate on a 30-year fixed-rate mortgage rose slightly to 6.69% this week, Freddie Mac reported. The rate increased from 6.66% a week earlier and remained above the 6.63%…
- CFPB Sends Open Banking Rewrite To White House, Moving Closer To Release — WASHINGTON—The Consumer Financial Protection Bureau has taken a major step toward rewriting its controversial open banking rule, submitting a proposed overhaul of the Biden-era regulation to the…
- Former Audit Chief Sues Patelco, Alleging Firing Followed Warnings Of Continuing Cyber Risks — DUBLIN, Calif.—Patelco Credit Union’s former chief audit executive has sued the $9.7-billion institution, alleging he was fired days after reporting serious compliance deficiencies, unresolved…
- America's Credit Unions: NCUA's Final Rules Eliminate Red Tape, Expand Credit Union Flexibility — WASHINGTON--In the latest action of the NCUA’s Deregulation Project, the agency has finalized 11 rules. Many of the rules make changes by removing outdated requirements or giving credit unions…
- African Diaspora Federal Credit Union Closes — Alexandria, VA (August 6, 2026) ― The National Credit Union Administration (NCUA) today liquidated African Diaspora Federal Credit Union in Saint Ann, Missouri. NCUA made the decision to liquidate…
- Ransomware Gangs Now Sending Fake IT Workers Into Offices, FBI Warns — NEW YORK--Ransomware gangs are increasingly sending operatives to victims' offices posing as IT technicians after remote social-engineering attempts fail, a tactic that has helped one prolific group…
- U.S. Auto Sales Slip 1.4% In July, But Demand Remains Resilient — NEW YORK--U.S. light-vehicle sales declined 1.4% year-over-year in July to an estimated 1.38 million units, while the seasonally adjusted annual selling rate eased to 16.5 million vehicles from 16.7…
- DCUC Conference 2026: Treasury--Cash Isn't Going Away, Bureau Unveils Currency Overhaul — AVENTURA, Fla.—As credit unions prepare for a future shaped by stablecoins and digital payments, Acting Bureau of Engraving and Printing Director Michael Brown delivered a different message…
- DCUC Conference 2026: Combat Mission Becomes Leadership Lesson For Credit Union Executives — AVENTURA, Fla.--Former U.S. Sen. Martha McSally, the retired Air Force colonel who became the first American woman to command a fighter squadron in combat, told credit union leaders Wednesday that…
- DCUC Conference 2026: Credit Union Leaders Seek Answers As Stablecoin Adoption Accelerates — AVENTURA, Fla.--Even as stablecoins dominate discussion across the financial services industry, many credit union leaders are still trying to understand exactly why they matter, with questions from…
- NCUA Board Approves 11 Final Rules For Deregulation Project — ALEXANDRIA, Va.--NCUA Wednesday finalized eleven rules that were proposed for changes through the Deregulation Project, the agency announced. “With today’s announcement, we are moving forward on our…
- Mortgage Applications Fall As Rates Hit Highest Level In More Than A Year — WASHINGTON—Mortgage applications fell 2.9% last week as rising interest rates continued to weigh on both home purchases and refinancing activity, according to the Mortgage Bankers Association's…
- DCUC Urges Hegseth To Make Financial Readiness Permanent Focus Of Military Spouse Commission — WASHINGTON--The Defense Credit Union Council Wednesday formally requested Secretary of Defense Pete Hegseth incorporate financial readiness as a permanent pillar of the newly established President's…
- U.K. Testing Finds AI Models Attempted 19 Real-World Hacking Actions; Calls Grow For Stronger Safeguards — LONDON—Advanced AI agents from Anthropic and OpenAI attempted 19 unauthorized actions against real people and organizations during cybersecurity testing conducted by the U.K. AI Security Institute…
- BECU, SAFE Clear Key Hurdle As Proposed $34B Merger Moves Forward — SEATTLE— BECU and SAFE Credit Union said they have received regulatory approval from the NCUA, the Washington State Department of Financial Institutions and the California Department of Financial…
- DCUC Annual 2026 Highlights Strategic Leadership, Emerging Technologies, and Advocacy for the Future — AVENTURA, F.L. – The Defense Credit Union Council (DCUC) continued another successful day of programming Wednesday during its 2026 Annual Conference at the JW Marriott Miami Turnberry Resort & Spa,…
- DCUC Writes to Department of War Secretary Hegseth, Strengthening Military Family Stability and National Readiness — AVENTURA, F.L. — Today, the Defense Credit Union Council (DCUC) formally requested Secretary of Defense Pete Hegseth incorporate financial readiness as a permanent pillar of the newly established…
- DCUC Conference 2026: Duda Draws Lessons From Ukraine, Cold War In Keynote On Leadership — AVENTURA, Fla.— Drawing on a decade leading Poland through rising tensions with Russia, the war in neighboring Ukraine and some of Europe's most significant geopolitical challenges, former Polish…
- DCUC Conference 2026: Visa To Credit Unions—Don't Make This Costly Payments Mistake — AVENTURA, Fla.— Artificial intelligence may be transforming payments, but trust—not technology—will determine which credit unions succeed as digital assets, faster payments and fraud threats reshape…
- Hundreds Targeted In RBFCU Impersonation Scam; Victims Say Claims Denied — SAN ANTONIO— Hundreds of members of Randolph-Brooks FCU were targeted by impersonation scams during the second quarter of 2026, and multiple victims who lost thousands of dollars say the credit…
- Chime Cuts 10% Of Workforce As AI Reshapes Fintech Operations — SAN FRANCISCO—Chime Financial is laying off about 150 employees, or roughly 10% of its workforce, as the digital banking company restructures around artificial intelligence and the demands of…
- OCC Proposes Sweeping Overhaul Of Public Access To Bank Supervisory Information — WASHINGTON—The Office of the Comptroller of the Currency is proposing a broad overhaul of its rules governing the release of agency information, including changes designed to make it easier for…
- DCUC Conference 2026: On One Stage, Two Trade Group Chiefs Deliver A Unified Vision For Credit Unions' Future — AVENTURA, Fla.— Standing together on the main stage at the Defense Credit Union Council's Annual Conference here, the leaders of the credit union movement's two largest national trade groups…
- DCUC Conference 2026: Fresh Off Blockbuster Merger Proposal, Bratsakis Says Credit Unions Are Stronger Together — AVENTURA, Fla.— Just days after unveiling plans for a merger that would create one of the nation's largest regional credit union trade organizations, new League of Credit Unions & Affiliates CEO…
- DCUC Conference 2026: Duda Draws Lessons From Ukraine, Cold War In DCUC Keynote On Leadership — AVENTURA, Fla.— Drawing on a decade leading Poland through rising tensions with Russia, the war in neighboring Ukraine and some of Europe's most significant geopolitical challenges, former Polish…
- Beastro Powers Corporate Central’s Modern Money Movement Platform — MILWAUKEE--As expectations for faster, more flexible payments continue to grow, Corporate Central said it is helping credit unions simplify how money moves through Beastro, its integrated money…
- Velera Included On Forbes America’s Best Employers For Women 2026 Ranking — TAMPA--Velera has been named to the Forbes list of America’s Best Employers for Women 2026, the CUSO announced Tuesday. Velera is one of 700 companies included on the list, ranking in the top 100 of…
- Treasury Drops Disparate Impact Standard In Final Rule — WASHINGTON--The Treasury Department Monday published a final rule to remove disparate impact from its regulations. The action follows a 2025 Executive Order directing federal agencies to eliminate…
- DCUC Annual 2026 Continues, Offering Leadership, Innovation, and Industry Insights — AVENTURA, F.L. – The Defense Credit Union Council (DCUC) continued its 2026 Annual Conference today at the JW Marriott Miami Turnberry Resort & Spa, welcoming credit union leaders, industry…
- FinCEN Hits UBS With Record $125 Million AML Penalty For Repeat Violations — WASHINGTON— The Treasury Department's Financial Crimes Enforcement Network (FinCEN) has assessed a record $125-million civil money penalty against UBS Financial Services, saying the firm failed to…
- DCUC Annual Conference Opens With Focus On Leadership, Innovation — AVENTURA, Fla.— The Defense Credit Union Council opened its 2026 Annual Conference Monday at the JW Marriott Miami Turnberry Resort & Spa here, bringing together credit union executives, industry…
- Suspect Arrested Minutes After Robbery At Beginnings Credit Union — ITHACA, N.Y.—A man was arrested within minutes after allegedly robbing Beginnings Credit Union's Meadow Street branch Monday morning, following a rapid response by Ithaca police after an employee…
- Paoletta Takes Over As Acting CFPB Director After Vought’s Term Expires — WASHINGTON—Mark Paoletta automatically became acting director of the CFPB on Saturday following the expiration of Russell Vought's authority to serve in the role under the Federal Vacancies Reform…
- Consumer Sentiment Jumps In July, But Confidence Remains Below Year-Ago Levels — ANN ARBOR, Mich.—Consumer sentiment rose sharply in July, climbing 11.5% from June as Americans grew more optimistic about business conditions and the economy, though confidence remains well below…
- NCUA Call Report Reveals Stunning $103-Million Loss at Jackson Area FCU — JACKSON, Miss.—New NCUA Call Report data show Jackson Area Federal Credit Union's financial condition has deteriorated dramatically following the agency's discovery of an alleged $95-million fraud…
- Trump Creates Military Spouse Commission; DCUC Urges Financial Readiness Focus — WASHINGTON—President Donald Trump is expected to sign an executive order Monday creating a White House Military Spouse Commission charged with advising the Administration on policies affecting…
- Crews Confirmation Tops Busy Week For Credit Unions In Washington — WASHINGTON—John Crews' expected confirmation to the NCUA board headlines a busy week in Washington for credit unions, with America's Credit Unions and the Defense Credit Union Council also closely…
- Credit Union Leaders Launch Industry-Wide Initiative To Shape Next Decade — SUNNYVALE, Calif.--A coalition of credit union executives, consultants and industry media leaders has launched a new research initiative aimed at developing a long-term vision for the credit union…
- America's Credit Unions Kicks Off August Push To Educate Consumers on Check Fraud — WASHINGTON--America’s Credit Unions and the American Association of Credit Union Leagues have teamed up to support a new campaign in partnership with America Saves that’s designed to bring attention…
- Mastercard Completes BVNK Acquisition, Expands Stablecoin Payments Strategy — PURCHASE, N.Y.—Mastercard said it has completed its acquisition of BVNK, a move aimed at expanding its ability to support payments across both traditional currencies and digital assets as…
- DCUC Annual Conference Opens with Camaraderie, Leadership, and a Shared Commitment to Those Who Serve — Golf tournament, networking events, and educational sessions set the stage for a week focused on innovation, collaboration, and advocacyAVENTURA, F.L. – Today, the Defense Credit Union Council…
- Global Watchdog Says DeFi Becoming Haven For Money Laundering, Fraud — PARIS— The Financial Action Task Force (FATF) is warning that decentralized finance (DeFi) is becoming an increasingly attractive tool for fraudsters, ransomware operators, professional money…
- State AGs Escalate AI Enforcement Using Existing Laws—What CUs Need To Know — NEW YORK--State attorneys general are increasingly using existing consumer protection, licensing and privacy laws—not AI-specific statutes—to crack down on companies that overstate artificial…
- FDIC, OCC Warn Oregon Law Could Upend Interstate Lending — PORTLAND, Ore.— The FDIC and Office of the Comptroller of the Currency have sided with banking and lending groups seeking to block an Oregon law that applies the state’s interest-rate limit to…
- One Year. Zero Payments. Suncoast Brings Back Popular Giveaway — TAMPA, Fla.— Suncoast Credit Union has launched the second year of its "Year of No Payments Giveaway," a promotion that will award three members a full year of either rent, mortgage or car payments.…