WASHINGTON—A U.S. judge has found three large Chinese banks in contempt for refusing to comply with subpoenas in a probe into North Korean sanctions violations, the Washington Post reported, adding one of them could lose access to the U.S. financial system.
Fresh Today
WASHINGTON—The U.S. economy added nearly a quarter-million jobs during June, bouncing back from weak numbers one month prior and perhaps causing the Fed to pause any potential rate cuts.
WASHINGTON—New data shows a continuation of slowing loan and membership growth, with credit union memberships increased just 0.31%, the slowest May increase since 2014. Moreover, loan portfolios were up just 0.57%, the weakest May loan growth since 2011 (shortly after the 2009 recession), according to CUNA’s Monthly Credit Union Estimates for May.
ARLINGTON, Va.—Total vehicle sales decreased to a rate of 17.2 million annualized units in June, and NAFCU Chief Economist and Vice President of Research Curt Long said he expects auto sales will remain steady for the remainder of 2019.
WASHINGTON—The U.S. House of Representatives Committee on Financial Services has published a letter addressed to Facebook’s executives requesting a suspension of activities on Libra, the company’s new cryptocurrency.
ALBANY, N.Y.—Facebook has applied for the New York BitLicense issued by the New York State Department of Financial Services for its Libra crypto project.
CHESTERFIELD, Mo.— NewGround has launched Studio One25, a design group it said specializes in creating dynamic retail and corporate environmental solutions that enhance the overall experience and drive business results.
ALEXANDRIA, Va.–More than half of credit unions participating in a voluntary self-assessment said they have made a “leadership/organizational” commitment to diversity at their institutions, according to NCUA.
LOUISVILLE, Ky.–A former vice president at a credit union that served the Louisville Police Department has pleaded guilty to stealing more than $3 million over four years.
SURREY, B.C.–A credit union here is closing its only unionized branch, where its employees have been on a strike since January.