WASHINGTON—The Federal Reserve Bank of Boston is partnering with researchers at the Massachusetts Institute of Technology on a multiyear effort to build and test "a hypothetical digital currency oriented to central bank uses," announced Federal Reserve Governor Lael Brainard.
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NEW YORK—JPMorgan Chase is ditching plastic for some of its credit cards.
WASHINGTON–In a move welcomed by both credit union trade groups, the Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to delay the implementation date of their Adverse Market Refinance Fee until Dec. 1.
WASHINGTON—The nation’s commercial banks and savings institutions saw a 70% decrease in net income during the second quarter when compared to a year ago, while liquidity and capital levels have remained “very strong to meet loan demand and absorb any losses in the future,” the FDIC reported.
SANTA MONICA, Calif. – ALG, Inc., a subsidiary of TrueCar, has released new data on vehicle resale values. The company is projecting total new vehicle sales will reach 1,303,826 units in August 2020, down 15% from a year ago when adjusted for the same number of selling days.
ARLINGTON, Va.–NAFCU has named the eight winners in its 2020 Annual Awards Competition, which honors member credit unions and credit union professionals and volunteers for excellence and achievement in the industry.
WASHINGTON—Acting Comptroller of the Currency Brian Brooks said the United States must adopt digital currency payment rails if the country hopes to compete with global payment rails in the future.
GREENVILLE, S.C.–Two credit unions in the process of merging here have announced the new name under which they plan to operate.
CHICAGO ––More leaders within the financial services industry are seeking to create a more diverse, equitable and inclusive workforce, but they still struggle with how to take meaningful actions that have a real impact, according to new research released by BAI.
DEER PARK, Texas–Shell FCU has signed a multi-year contract with Lumin Digital, a PSCU company, to use the company’s cloud-based platform as the credit union’s digital banking solution.