NAGOYA, Japan–Even a centuries old tradition is now going cashless. Japan's Shinto shrines and Buddhist temples are increasing going cashless, allowing visitors to replace small coin offerings by swiping their smartphones.
Fresh Today
NEW YORK–The Office of the Comptroller of the Currency (OCC) has hit the former CEO of Wells Fargo with a $17.5-million fine for his role in a huge scandal related to the company’s former sales practices.
ALEXANDRIA, Va.–The NCUA board has put out for comment a proposal to amend its rules on subordinated debt that would double the number of complex credit unions eligible to issue such debt.
ALEXANDRIA, Va.–The NCUA board has put out for comment a proposed rule related to credit union acquisitions of banks—although both Chairman Rodney Hood and agency staff stressed that credit unions do not technically purchase banks–with a focus on clarifying the process.
ALEXANDRIA, Va.–The NCUA board today voted 3-0 to approve its annual performance plan for 2020.
ALEXANDRIA, Va.–The NCUA board will be meeting today and on the agenda is a proposed rule that would allow some federally insured credit unions (FICUs) to count subordinated debt as capital for risk-based net worth purposes.
WASHINGTON– The Independent Community bankers of America (ICBA) is hailing a decision by the Colorado Banking Board to reject a plan by a Colorado Credit Union to buy a bank, and calling on other states to do the same.
ARLINGTON, Va.—While lack of affordable inventory has hampered the housing market in recent months, the number of home groundbreakings rose to a 13-year high in December – up 16.9% to 1.61 million annualized units – according to data released by the Census Bureau.
WASHINGTON—NAFCU and CUNA have sent a number of comment letters on issues that include remittance transfers under the EFT Act, proposals related to TILA/RESPA, and concerns over multi-lender pools.
WASHINGTON—CFPB Director Kathy Kraninger indicated in a letter to lawmakers last week that the Bureau plans to extend the Ability to Repay/Qualified Mortgage rule’s exemption for loans eligible for purchase by the government sponsored enterprises (GSE) from its 43 debt-to-income (DTI) cap, an exemption commonly referred to as the GSE Patch. NAFCU has joined with eight other trade groups to urge the Bureau to continue using a modified DTI ratio and suggest changes to Appendix Q.