WASHINGTON–Even as some credit unions have worked to expand services to cannabis-related businesses, and one cannabis business services CUSO went public for $185 million, most of those same cannabis companies are not making money themselves, according to a new report.
Fresh Today
ALEXANDRIA, Va.–With NCUA noting the first half of 2022 experienced the sharpest increase in interest rates in decades, the agency has issued a new Letter to Credit Unions addressing interest rate risk
MEXICO CITY, Mexico—Remittances to Mexico reached a record high in July as Mexican families received $5.3 billion from abroad, an annual increase of 16.5%, according to new data from the Mexican central bank.
NEW YORK—In addition to some congressional Democrats, some New York City officials are also now demanding credit card companies to start playing a stronger role in gun control. The move comes at the same time New York-based Amalgamated Bank — with the help of the advocacy group Guns Down America--has reapplied to the International Organization for Standardization (ISO) to create a new set of merchant category codes for gun sales.
CHICAGO—Walmart has filed a motion to dismiss a lawsuit by the Federal Trade Commission that accuses the company of allowing its money transfer services to be used by scam artists, calling it an “egregious instance of agency overreach.”
WASHINGTON–The Consumer Financial Protection Bureau (CFPB) has introduced a new graphs tool that utilizes quarterly Home Mortgage Disclosure Act (HMDA) data reported by certain financial institutions.
ATLANTA—A new solution is bringing more competition to the remittance market—this time from a fintech.
ABU DHABI, U.A.E.—Abu Dhabi has formed a government body to develop its strategy for regulating and promoting the world of virtual assets.
NEW YORK—Even as high inflation continues to put pressure on household budgets, many people say they have at least one gift card they have not used.
ALEXANDRIA, Va.–CUToday.info’s latest review of disclosure forms filed by nine credit unions seeking to merge has found two CUs, both of which posted losses over the first six months, seeking to combine; several CUs with capital north of 22% again not distributing any of that net worth to members; just one acquiring CU of more than a billion in assets (a rarity), and one small CU that still operates out of a person’s home and which does business by phone only.