WASHINGTON — The Financial Crimes Enforcement Network (FinCEN) said it will host a special virtual FinCEN Innovation Hours Program on Sept. 9 on the “important role of privacy-preserving principles in developing technical solutions that enhance financial services innovation while countering illicit activity and national security risks that undermine the integrity and opportunity of the U.S. financial system.”
Fresh Today
FALL RIVER, Nova Scotia–For the second time in 2021, multiple credit unions in Canada’s maritime provinces are looking to consolidate.
HAMPSHIRE, U.K.–A new study by Juniper Research has found that the total value of transactions processed by POS terminals will exceed $17.3 trillion in 2026, from $14.8 trillion in 2021; a growth rate of 28%.
WASHINGTON—Global remittances are expected to total $702 billion in 2020, down from $719 billion in 2019 (-2.4%). Of that total, $540 billion is expected to have flowed into low and middle-income countries, down from $548 billion (-1.6%), according to new World Bank data.
ALEXANDRIA, Va.–There are 15 proposed credit union mergers scheduled for respective member votes during June and mid-July, according to NCUA.
MADISON, Wis.—Credit union loan growth dipped in March, but expect growth to pick up as the year progresses, and rise markedly in 2022, reports CUNA Mutual Group in its latest Trends Report.
COSTA MESA, Calif.–A new study from J.D. Power has found trust in lenders actually increased during the past year and, perhaps even more surprising to many, traditional lenders actually outperformed fintechs in a number of critical areas.
CHICAGO–The president of a bank that was acquired by a credit union in a deal that has led to a lawsuit over alleged accounting issues and who was later terminated by the credit union has won a half-million-dollar settlement against the CU, according to a new report.
WASHINGTON—Congress should hold the Small Business Administration (SBA) accountable for blocking privately insured credit unions from accessing Paycheck Protection Program (PPP) funding, CUNA wrote to the House Small Business Committee.
WASHINGTON—Ahead of a House Financial Service Committee hearing to provide oversight of the nation’s largest banks, NAFCU sent a letter noting the fines for consumer abuses assessed to banks, and urged support of the Expanding Financial Access for Underserved Communities Act.