January has a reputation for being slow. Compliance, apparently, did not get the memo.

This roundup touches on some familiar themes for credit unions heading into 2026: credit cards, interchange pressure, supervisory priorities, and the ever-present possibility of a government shutdown, all unfolding at once.

Here is what’s moving, what’s stalled, and what deserves a closer look as we head toward the end of the month.

Government Shutdown Looms as DHS Funding Stalls

• Federal funding expires January 30, 2026, with Senate Democrats threatening to block the spending package over DHS funding disputes following fatal ICE shootings in Minneapolis
• The House passed $1.2 trillion spending package on January 22, but Senate opposition creates high shutdown risk

Credit Card Competition Act : Interchange Revenue Remains Under Threat

• Talk about Senators Durbin and Marshall introducing their revised Credit Card Competition Act as an amendment to crypto legislation in Senate Agriculture Committee were mitigated Monday afternoon
• However, attacks on interchange remain as the White House and various legislators continue to support the Credit Card Competition Act

10% Credit Card Rate Cap Moves from Social Media Post to Proposed Legislation

• What began as a social media post by President Trump proposing a one-year 10% APR cap has evolved into serious bipartisan legislation gaining congressional attention
• Senate bill S.381 by Sanders (I-VT) and Hawley (R-MO), and House bill H.R.1944 by Ocasio-Cortez (D-NY) and Luna (R-FL) propose five-year 10% caps with enforcement mechanisms
• America’s Credit Unions warns that an estimated two-thirds of credit card users carrying a balance would have their credit lines reduced or eliminated and virtually all of the 47 million Americans with a sub-prime credit score would be unable to obtain or keep a credit card

$8 Credit Card Late Fee Cap: From Dead CFPB Rule to Legislative Revival

• The Senate introduced the Credit Card Fairness Act to codify $8 late fee cap into federal law after CFPB’s rule was vacated in April 2025
• Current Regulation Z safe-harbor amounts remain in effect for now

NCUA Sets 2026 Examination Priorities

• The NCUA released its 2026 Supervisory Priorities Letter, emphasizing “No Regulation by Enforcement” while zeroing in on credit unions’ weakest loan performance in over a decade
• Examiners will focus on underwriting standards, credit risk management, and liquidity planning
• Operational risk remains a priority, with continued emphasis on fraud prevention and payment systems security and BSA makes an appearance after being off the list for a few years

Looking Ahead

The next few days are critical with committee hearings (weather dependent) and the end of the month government shutdown deadline.

Let’s Make This Useful

I want this blog to be as relevant as possible to the people reading it. So:

• Got a topic you’d like me to break down?
• Burning desire to know more about that headline you read the other day?
• Have an industry-related question you want addressed?

Reach out to me at jeremy.newman@nycua.org. Let’s talk.

Until Next Time

From the big picture to the fine print, we’ve got you covered. Thanks for reading, and CU in the next post.