WASHINGTON— The crypto market needs more regulation to protect investors and greater funding and authority are needed to provide that oversight, according to Gary Gensler, recently named to head the Securities and Exchange Commission (SEC).
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LONDON—HSBC has launched a multi-currency digital wallet that enables businesses to make and receive international payments from a single global account.
SAN FRANCISCO—Fintech Plaid has announced it is partnering with Square in what the companies said is an effort to help businesses easily process ACH debits without needing to hold sensitive bank information.
TYSONS, Va.–PenFed Credit Union said it is partnering with Rise, a nonprofit providing services in the Hightstown/East Windsor area in New Jersey, to launch a new platform, “uRise Powered by PenFed” (urise.njrise.org).
CAMBRIDGE, Mass.–MIT FCU said that as part of the Massachusetts Institute of Technology’s Independent Activities Period (IAP) it has collaborated with the Priscilla King Gray Public Service Center (PKG) to offer a social impact internship opportunity.
LONDON–The United Kingdom’s Financial Conduct Authority (FCA) said it is establishing plans for a new “Consumer Duty” designed to bolster existing rules and principles in order to enhance consumer protection in retail financial markets.
WASHINGTON–President Biden’s recently submitted $6 trillion federal budget includes, not surprisingly, numerous proposals that have credit union support, opposition and concern.
WASHINGTON– At the urging of business groups, the Equal Employment Opportunity Commission has made clear how companies and credit unions can issue vaccine mandates to workers coming back to the office, and what incentives those employers can offer to promote being inoculated against the coronavirus.
BOSTON – Noting a high-cost predatory loan is only made worse when the loan is larger and longer, residents in some states have been gaining protections while others are paying even more than before the COVID-19 crisis, according to a new report from the National Consumer Law Center.
NEW YORK—The bungee-cord like price changes taking place among the various cryptocurrencies is also having an effect the expansion and usage of Bitcoin ATMs.