SUN VALLEY, Idaho–The vice chair of the Federal Reserve has compared plans for any central bank digital currency (CBDC) to “parachute pants.”
Fresh Today
WASHINGTON—A new report shows U.S. regulators have imposed fines and penalties totaling $2.5 billion on crypto firms and individuals to date.
NEW YORK—As more Americans hold cryptocurrency, will crypto credit card follow the broader market and begin offering rewards?
WASHINGTON— The Federal Trade Commission is sending checks totaling more than $316,000 to 10,689 people who lost money to a student loan debt relief scheme. If that amount is divided equally, it comes to approximately $29.56 per check.
SAN FRANCISCO—Visa reported it has agreed to a $2.2-billion takeover of the European open banking platform Tink, months after it scrapped a planned acquisition of the startup's U.S. rival Plaid.
LONDON–Despite rising inflation as economies rebuilt following the pandemic, the continued fragility of the global economy will likely see interest rates remain at ultra-low levels for the foreseeable future, according to one new forecast. And that means financial institutions are going to need to evolve and adapt in new ways, suggests a report from GlobalData.
MADISON, Wis.–Credit union yield on asset ratios hit a record low, and every real estate loan category reported positive growth while every consumer loan category (except used cars) saw negative growth through April, according to the newest CUNA Mutual Trends Report, which is also predicting a “surge” in CU mergers during 2023-26.
ARLINGTON, Va.–What can be done about the lack of growth at more than half of all federally insured credit unions? It’s a challenge for which there is no one clear-cut answer, notes NAFCU.
ARLINGTON, Va.–One economist agrees with NCUA Chairman Todd Harper that there continues to be reason to be wary of the “economic fallout” from the pandemic even as the economy is well on its way toward recovery.
ARLINGTON, Va.—A decade after the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Durbin Amendment has had an “unequivocally negative” impact on credit unions’ non-interest income, according to data compiled by NAFCU and included in its latest Economic & CU Monitor report.