NEW YORK—Banking giants JPMorgan and DBS, along with Singapore state investor Temasek, have formed a new blockchain company they said will improve cross-border payments.
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SAN FRANCISCO—New data released by Visa indicate the strength of the ongoing surge in online spending. The numbers also apply to the company’s own bottom line, as the world’s biggest payment processor beat Wall Street estimates for quarterly profit and counter sluggish travel spending.
WASHINGTON–Two national consumer groups and two credit unions said NCUA’s new CUSO proposal would allow CUSOs to engage in predatory lending that is explicitly illegal for federal credit unions.
RANCHO CUCAMONGA, Calif.–CO-OP Financial Services is reporting an unrealized gain of $156-million based on its investment in Alkami, which held an initial public offering (IPO) on April 14.
WASHINGTON–A familiar name has been selected as the new head of federal student aid in the Biden administration, a post that will put him at the center of the debate over forgiving student debt.
WASHINGTON — Federal Reserve Chair Jerome Powell said he would support subjecting non-depository institutions, such as fintechs, to the Community Reinvestment Act, but added any final decision should be left to Congress.
WASHINGTON–Lenders across the country are reporting they largely continue to ease their underwriting standards for both commercial and household borrowers, according to a new survey, although there are some exceptions.
DAYTON – Universal 1 Credit Union has named a successor to President/CEO Loren A. Bush, who plans to retire in October.
SAN ANTONIO–Two Texas credit unions have announced a merger. The $60-million First Class American Credit Union and its 6,000 members has merged into the $300-million United Texas Credit Union in Fort Worth.
BALTIMORE, Md.–Four organizations, including three CUs, have invested $5 million in Think|Stack, a cloud and cybersecurity firm that specializes in credit unions, forming a CUSO.