The attorney who prepared CUNA’s amicus brief in the U.S. Supreme Court case regarding merchant surcharges on credit card transactions has another role, to prepare Steven Wu, of the New York attorney general’s office, to present oral arguments Jan. 10.
CUNA is taking the credit union case against payment card surcharges to the U.S. Supreme Court, filing an amicus brief in a case that challenges a New York law prohibiting merchants from imposing a surcharge for using a payment card.
Once the Financial Crimes Enforcement Network’s new customer due diligence rule becomes effective May 11, 2018, credit unions will be required to identify and verify the beneficial owners of business-type accounts.
Atlanta-based Arby’s restaurants has acknowledged a data breach involving approximately a number of its corporate-owned locations, reports Krebs On Security. The breach is estimated to have occurred between Oct. 25, 2016, and Jan. 19.
Federal Reserve Chair Janet Yellen testified before Congress this week, and her remarks match CUNA economists’ prediction of moderate economic growth in 2017. Perc Pineda, senior economist at CUNA, also predicted rate hikes this year.