Reminder: The New York Credit Union Association and our Affiliates will be closed Monday, May 28, in observance of Memorial Day.

In response to the state Department of Financial Services’ request for comments on online lending, New York Credit Union Association President/CEO William J. Mellin penned a letter to DFS Superintendent Maria T. Vullo – The Point

The NCUA board of directors yesterday unanimously approved two items: a notice of proposed rulemaking seeking comment on the agency’s proposal to provide federal credit unions with additional options for payday alternative loans; and a final rule clarifying agency procedures for resolving severance claims arising from involuntary liquidations – NCUA

Syracuse Mayor Ben Walsh provided an update at the Association’s Central New York Chapter annual meeting last week – The Point

NCUA will appeal a federal judge’s ruling that voided parts of the agency’s field of membership rule (the Association strongly supports the agency’s decision) – CU Times

It’s official: President Donald Trump signed into law S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act – CU Journal

The Office of the Comptroller of the Currency pushed U.S. banks to offer short-term loans to customers with troubled credit histories – The Hill

The New York Police Department is testing a new device that officials hope will turn the tide in the war against credit card skimmers – CUToday

The median net worth for older millennials is 34 percent lower than what past trends would predict for their age group – Slate

New York Democrats approved a resolution at their party’s convention this week that supports the legalization of marijuana – Times Union