WASHINGTON—Comptroller of the Currency Michael Hsu is signaling the OCC will be giving more scrutiny to bank mergers, and he has directed the agency to work with the Department of Justice (DOJ) and other banking regulators to review merger frameworks.
Fresh Today
ONTARIO, Calif.–Record-high deposits are poised to finally decline going into summer of 2022 among California’s financial institutions as local households continue drawing down their unprecedented savings to afford the ongoing price inflation for goods and services, according to a newCalifornia Credit Union Industry Snapshot released by the state league.
ALBANY, N.Y.–After failing to pass last year, the New York Public Banking Act has returned to the state legislature and it again has credit union support.
ALBUQUERQUE, N.M.–The Credit Union Association of New Mexico is reporting it has launched a number of employee resource groups (ERG) with a goal of enabling the workers in the state’s 40 credit unions to network and support one other.
LITHICUM, Md.–State Employees’ Credit Union of Maryland has selected the AI-powered credit decision from Scienaptic AI.
DUBAI, UAE–The ways in which buy now, pay later (BNPL) solutions are now making even bigger inroads into the traditional consumer loan business can be seen in one new app that has just concluded a round of funding.
LOS ANGELES–More than two-thirds of more than 1,600 consumers surveyed believe there is racism and bias present in the financial system and credit scoring system, according to Zest Ai, a provider of AI-powered underwriting software, which conducted the survey.
NEW YORK—Buy now, pay later (BNPL) solutions continue to expand, becoming available at more stores and gas pumps, according to a new report.
NEW YORK—Kevin O’Leary, one of the stars of TV’s Shark Tank who is better known as “Mr. Wonderful” and who is also chairman of O’Shares Investment Advisers, is predicting that blockchain and cryptocurrency will one day represent the 12th sector of the S&P 500.
PARIS—The Financial Action Task Force (FATF) said it plans to assess its member countries more frequently to assist in further in tackling money-laundering and combating terrorist financing.