CAPITOLA, Calif. – The merger of Coast-Tel FCU into Bay Federal Credit Union is officially complete.
Fresh Today
WASHINGTON—The Federal Trade Commission has stopped a student loan debt relief scheme, alleging it bilked more than $23 million from thousands of consumers with false claims that it would service and pay down their student loans, the agency reported.
LONDON—VibePay here has been given the green light from the U.K. Financial Conduct Authority to provide direct-to-bank payments using open banking.
NORWALK, Conn.–The Financial Accounting Standards Board has announced a delay in the implementation date for its new current expected credit loss (CECL) standard for an additional year for credit unions, pushing back the compliance date until 2023.
WASHINGTON–Senators grilled a Facebook executive here over its proposed new cryptocurrency, with the company responding by attempting to minimize concerns.
WASHINGTON–It isn’t just credit unions calling on Congress to proceed with caution in allowing Facebook to roll out its own cryptocurrency, called Libra.
ARLINGTON, Va.–Ahead of a Senate hearing on Facebook’s proposed Libra cryptocurrency, NAFCU sent a letter highlighting its concerns around the potential for terrorism financing and other criminal activity, as well as worries over privacy.
WASHINGTON — Treasury Secretary Steven Mnuchin has joined President Trump in expressing “very serious concerns” about cryptocurrencies, including the Libra cryptocurrency being developed by Facebook.
SINGAPORE—Singapore wants Facebook to offer up more details about the launch of its new cryptocurrency, Libra, before the country decides whether there is need for new regulation.
ELGIN, Ill.–Corporate America Family Credit Union has purchased Ben Franklin Financial, the holding company for Ben Franklin Bank of Illinois, in an all-cash transaction.