Fresh Today

Fresh Today

AUSTIN, Texas—The Texas Department of Banking could consider “stablecoins,” a cryptocurrency designed to minimize the effects of price volatility, as money, making them and exchanges that deal with them subject to a number of Texas laws and license requirements, according to a new Supervisory Memorandum from the department.

WASHINGTON—Total consumer credit rose 6.7% in November, again exceeding expectations. The non-revolving sector (primarily auto and education loans) posted its largest gains in a year – 7.1% – which partially reflects stronger than expected vehicle sales during the holiday shopping season, noted NAFCU Chief Economist and Vice President of Research Curt Long.