Welcome to NASCUS Report

Thank you for reading. In lieu of the Thanksgiving holiday, NASCUS Report will return on Friday, December 6th.

Technology & Payments

How FIs Can Get Ready for NACHA’s Upcoming New Rule; Has CFPB Started a War Over Open Banking — or Created New Opportunities for Banks?; Google Pay Adds BNPL Services; Is the Future of Payments Public or Private?
Happening in Tech

AI & Digital Assets

How Banks Are Navigating AI; Odds of Creating a U.S. Bitcoin Reserve Rise After State Introduces Bill; What Do FDIC Examiners Think About AI? I Asked One; Custodia Bank Scales Back Amid Expectations of Crypto Policy Shifts
AI Policy News

Fraud & Cybersecurity

Hackers Using Snail Mail in Cyber Attacks; An Interview with the Target & Home Depot Hacker; Phishing Emails Increasingly Use SVG Attachments to Evade Detection; Finastra Confirms It’s Investigating a Data Breach
Cyber News

Industry & Regulation

We Can’t Give Up Paper Checks, and That’s a Gold Mine for Scammers; Nearly Half of Americans Say They Live Paycheck to Paycheck; CFPB’s Chopra Urges Deposit Insurance Reform; Things Are Quiet in Consumer Credit. Too Quiet.
Industry Updates

News Around the States

– Why Do Banking Deserts Exist? How Can Credit Unions Fix Them?
– In NY, Suffolk Credit Union Donates $10,000 to “Give Vets a Smile Day”
– New App for Marylanders Enables Businesses to Check mDLs, Digital ID
– Arizona Solar Panel Contractor Allegedly Defrauds Credit Unions & Homeowners
– NACUSO’s Ronaldo Hardy Reimagines the Organization’s Transformation
Read More Stories Here

Nov. 22: CFPB Recent Updates

CFPB Finalizes Rule on Federal Oversight of Popular Digital Payment Apps to Protect Personal Data, Reduce Fraud, and Stop Illegal “Debanking” The Consumer Financial Protection Bureau (CFPB) today finalized a…

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FinCEN’s Latest FAQs on Beneficial Ownership Reporting: Key Updates and Implications

The Financial Crimes Enforcement Network (FinCEN) recently updated its Frequently Asked Questions (FAQs) regarding the Beneficial Ownership Information (BOI) Reporting Rule. The October 3, 2024 FAQ updates provided crucial clarifications…

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NCUA Board Approves Central Liquidity Facility Budget for 2025–2026

The National Credit Union Administration (NCUA) Board held its eighth open meeting of 2024 and approved the Central Liquidity Facility’s budget for 2025–2026. The Board also received a briefing on…

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