Increased efficiency, security, and speed. These are the primary benefits credit unions could realize by developing a network based on blockchain. Rich Meade, CUNA chief operating officer, presented the possibilities for credit unions at America’s Credit Union Conference Wednesday.
The second phase of Same Day ACH rollout has a Sept. 15 effective date, and a list of recommended action items to be performed has been released. All financial institutions must be prepared to receive by Sept. 15.
The House Financial Services Committee will conduct a hearing on Rep. Jeb Hensarling’s (R-Texas) Financial CHOICE Act next week. CUNA President/CEO Jim Nussle said CUNA appreciated the effort to bring regulatory relief to credit unions and other institutions.