Minnesota Gov. Mark Dayton signed into law H.F. 1127/S.F. 1043 last week, a bill authorizing credit unions in the state to offer prize-linked savings accounts. This marks the 13th state to enact such a law.
Nearly 14,000 financial institutions of all charter types are struggling with an onerous and growing regulatory burden, CUNA and bank trade groups warn in a letter urging the U.S. Congress to act on bipartisan relief measures.
Many representatives and witnesses at a U.S. House Financial Services Committee hearing on data security Thursday agreed: the strong data security standards spelled out for financial institutions by the Gramm-Leach-Bliley Act would help stop data breaches if applied elsewhere
Wisconsin credit unions emphasized their difference as locally owned, cooperative financial institutions in a roundtable meeting Wednesday with Elizabeth Ellis, Consumer Financial Protection Bureau deputy assistant director office of financial institutions and business liaison.