LONDON—The Bank for International Settlements (BIS) has delivered a strong warning about the growing risks of stablecoins, urging governments to accelerate the tokenization of official currencies as a safer alternative, Reuters reported.
Fresh Today
WASHINGTON—The CFPB has released a policy statement outlining its approach to addressing regulatory violations that carry criminal liability. This follows an executive order issued by President Donald Trump on May 9 that directed all federal agencies to publish guidance detailing their plans for handling such offenses, law firm Holland & Knight reported.
WASHINGTON—The Federal Reserve Board's annual bank stress test showed that large banks are well positioned to weather a severe recession, while staying above minimum capital requirements and continuing to lend to households and businesses, the Fed reported.
WATFORD CITY, N.D.—The $340-million Dakota West Credit Union has promoted of Jeff Reiter to CEO, the CU reported.
TALLAHASSEE, Fla.-- United Solutions Company, a leading credit union service organization, in collaboration with Fiserv, successfully hosted the XP2 User Group Meeting on June 24, the company reported.
WISCONSIN RAPIDS, Wis. – A Connexus Credit Union branch here has been deemed “clear” following a bomb threat that led to its temporary closure and the evacuation of nearby businesses earlier on Friday, according to the Wisconsin Rapids Daily Tribune.
WASHINGTON--The Federal Deposit Insurance Corporation, the Office of Comptroller of the Currency, and NCUA, with the concurrence of the Financial Crimes Enforcement Network, issued an order Friday granting an exemption from a requirement of the Customer Identification Program (CIP) Rule implementing Section 326 of the USA PATRIOT Act.
WASHINGTON--A bipartisan group of lawmakers, led by Rep. Scott Fitzgerald (R-WI), introduced legislation in the House Thursday to extend the credit union loan maturity limit to 20 years. The bill, titled the Expanding Access to Lending Options Act, would also grant the NCUA authority to further extend loan terms for certain types of credit union loans.
WASHINGTON—The Senate Thursday confirmed Kenneth Kies to be assistant secretary of the Treasury.
CHICAGO—The $20-billion Alliant Credit Union has named Mike Dobbins CEO, the credit union announced.