WASHINGTON—Federal Reserve Governor Michael Barr is warning that current efforts to roll back bank-supervision standards could heighten risks across the financial system, cautioning that weakening core oversight tools may leave institutions more vulnerable in the next period of stress.
Fresh Today
NEW YORK—“We do think it’s going to be real,” Visa’s head of product for Commercial Money Solutions Mark Nelsen told PYMNTS, predicting that dollar-backed stablecoins are set to play an increasingly practical role in global payments.
FAIRFAX COUNTY, Va.—Apple Federal Credit Union is at the center of a jackpotting investigation after $175,000 was stolen from an ATM at one of its Fairfax branches, according to reporting from Fox 5.
O’FALLON, Mo. – The $491-million West Community Credit Union here and $173-million Gateway Metro FCU, based in St. Louis, plan to merge, the organizations announced.
NEW YORK—Digital scams are eroding the very trust that underpins banking and payments, creating a growing systemic risk for financial institutions, according to “Financial Scams and Consumer Trust,” a joint report by PYMNTS Intelligence and Block.
WASHINGTON--The Defense Credit Union Council has joined a broad coalition of major financial-services trade groups—including America’s Credit Unions—and consumer protection organizations in submitting a joint letter to the Federal Communications Commission (FCC) addressing the agency’s responsibilities under the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act.
CHICAGO—With credit washing erasing billions in legitimate debt from consumer files and warping lenders’ view of borrower risk, financial institutions are facing a fast-escalating threat that’s already reshaping credit-decisioning.
KENNEWICK, Wash.--The $75-million Tri-Cities Community Credit Union has become the newest member of the Defense Credit Union Council, the trade group announced.
WASHINGTON—President Trump has nominated Stuart Levenbach to serve as director of the CFPB, according to a new filing on Congress.gov.
WASHINGTON--America's Credit Unions is encouraging credit unions to comment on the NCUA’s proposal to remove reputation risk from its examination and supervision program.