LONDON–London Mutual Credit Union has launched a dedicated new financial support service for military personnel. The service launched in conjunction with Armed Forces Day.
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BRUSSELS, Belgium—The European Parliament’s Committee on Economic and Monetary Affairs (ECON) has released a 30-page report on cryptocurrency titled “Virtual Currencies and Central Banks’ Monetary Policy: Challenges Ahead.”
WASHINGTON—The Bureau of Consumer Financial Protection is being urged to partner with the National Credit Union Foundation to improve consumer financial literacy.
ALBANY, N.Y.—The New York State Department of Financial Services (DFS) has issued guidance to New York state-chartered banks and credit unions to offer banking services to medical marijuana businesses licensed under the New York State medical marijuana program (Registered Organizations) and to industrial hemp businesses participating in the New York State industrial hemp research program (Research Partners).
PURCHASE, N.Y.—Mastercard has been awarded several new blockchain patents, continuing its trend of embracing distributing ledger research even as it expresses open hostility to Bitcoin and other cryptocurrencies.
LAS VEGAS—A fast-growing credit card issuer is also quickly racking up complaints, with consumers grousing about high upfront annual fees, big delays in the processing of payments, and no grace periods.
SYDNEY, Australia—The Commonwealth Bank of Australia is facing a second shareholder class action after agreeing to pay $700 million to settle anti-money laundering claims by the government’s financial intelligence agency.
WASHINGTON—Leandra English, who had gone to court to challenge the leadership of the Bureau of Consumer Financial Protection, said she will leave the Bureau early this week.
WASHINGTON–While the data has long been a standard, some analysts, including at the Federal Reserve, are questioning whether yields on government bonds and the yield curve are the best predictors of recessions.
WASHINGTON—Despite concerns about trade policy negatively impacting the economy, members of the Federal Open Market Committee (FOMC) saw enough positives to support their decision to raise rates at the committee's June meeting, according to meeting minutes released last week.