NEW YORK—Bitcoin’s explosion over the past year has driven an 880% growth in adoption as accepted tender, amid a staggering 2,300% wave of cryptocurrency adoption since 2019, according to Chainalysis, which released the figures in its annual Global Crypto Adoption Index.
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WASHINGTON—The Federal Reserve Board is seeking comment from financial institutions on what “immediate” should mean in connection with FedNow, the new real-time payments network set to launch in 2023.
TYSONS, Va. –PenFed Credit Union has launched what it said is the first-of-its-kind Washington Justice branded Power Cash Rewards Visa Signature Card.
NEW YORK—Apple, Google and other big companies around the world are continuing to add to their massive piles of cash, a sign that corporations are increasingly nervous about how the highly contagious COVID-19 Delta variant could damage the global economy.
NEW YORK—A new report reveals many consumers’ perceptions of their credit scores is not accurate.
SACRAMENTO, Calif.—The number of payday lenders and payday lender borrowers in California declined sharply in 2020, despite the initial high unemployment rates driven by the pandemic, a new report shows.
ALEXANDRIA, Va.–Federally insured credit unions reported net income growth of $11.9 billion in the second quarter of 2021, or 126.8%, over the same period in 2021, according to the latest financial performance data released by NCUA.
FDIC-Insured Banks Report 281% Increase in Net Income in Q2, Despite Record Low Net Interest Margins
WASHINGTON—The nation’s FDIC-insured banks reported aggregate net income of $70.4-billion during the second quarter of 2021, an increase of $51.9 billion (281%) from one year earlier, even though net interest margin hit an all-time low, according to the agency.
CHICAGO–A new research brief from the Filene Research Institute and TransUnion offers insights into how credit unions can adapt lending strategies to better compete in an evolving landscape while also expanding financial inclusion efforts.
FAIRHOPE, Ala.–A truck full of supplies assembled by CU*South has distributed much-needed supplies in New Orleans, where many credit unions remain without power more than a week after Hurricane Ida struck.