Ray Birch

SAN ANTONIO—By acquiring PayPal, Stripe wouldn't simply create a larger payments company—it could accelerate the emergence of a consumer financial powerhouse capable of competing more directly with banks and credit unions for payments, deposits and everyday financial relationships.

SOUTH BEND, Ind. — Credit unions increasingly recognize that aging lending platforms are limiting growth, increasing compliance and cybersecurity risks, and making it harder to compete, but many lack the staff and resources needed to modernize before those risks become more costly, according to new research from lending technology provider Carleton.

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 delivered a unified message that the industry's future will depend less on individual advocacy victories and more on collaboration as banks, fintechs and political opponents intensify pressure on the cooperative model.

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.