Welcome to NASCUS Report

Thank you for reading. In lieu of the holiday season, NASCUS Report will return on Friday, January 10th.

Technology & Payments

Watchdog Warns Credit Card Companies Over Reward Points; AI, Biometrics Fuel Emerging Payment Trends in Opposite Ways; Banks Up Due Diligence on Non-Bank Borrowers; Section 1033 Rules Make Compliance Top-of-Mind for Tech Professionals
Happening in Tech

AI & Digital Assets

Congressional AI Report Lays Out Regulatory Roadmap, Addresses Privacy, Civil Rights Issues; Fake Ledger Data Breach Emails Try to Steal Crypto Wallets; What’s In Store for Crypto In 2025?; New Study Shows AI Really Doesn’t Want to Be Forced to Change Its Views
AI Policy News

Fraud & Cybersecurity

How to Lose a Fortune with Just One Bad Click; Is A USB Cable Hiding Malicious Hacker Hardware; FBI Warns Americans to Keep Their Text Messages Secure; FinCEN Warns of Fraud Schemes That Abuse Its Name, Insignia, and Authorities for Financial Gain
Cyber News

Industry & Regulation

Financial Entities File Lawsuit Against CFPB To Block Overdraft Rule; Banking Industry Should Take the Lead on Modernizing Regs; CTAUpdate: Effect of Recent Court Action; FDIC Authorizes Potential Legal Action Against Former SVB Executives
Industry Updates

News Around the States

– Credit Union Trade Groups Confront New Reality
– Impact of 2024 Elections on the Credit Union and CUSO Industry
– DFS Proposes New Regulation to Ensure Access to Credit for All New Yorkers
– DFI: Wisconsin’s State-Chartered Credit Unions Report Sound Third-Quarter Financial Performance
– NCUA Chairman Todd M. Harper Statement on the Succession Planning Final Rule
Read More Stories Here

Despite Fed Cuts, Many Store Credit Cards Are Still Charging Extreme Interest Rates

The findings from the Consumer Financial Protection Bureau shed light on impacts to consumers who rely on major retailers’ credit programs. The Consumer Financial Protection Bureau found that 19% of…

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U.S. Regulator’s ‘Problem Bank’ List Grows as Industry Profits Dip

A top U.S. bank regulator added two banks to its so-called “problem bank” list in the third quarter, while overall industry profits dipped 8.6%, the regulator said. The Federal Deposit…

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Dec. 20: CFPB Recent Updates

Published DEC 20, 2024 CFPB Sues JPMorgan Chase, Bank of America, and Wells Fargo for Allowing Fraud to Fester on Zelle Today, the Consumer Financial Protection Bureau (CFPB) sued the operator…

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