LEWISTON, Idaho–An employee at the Lewiston branch of Idaho Central Credit Union has allegedly been fired and is facing a grand theft charge after allegedly stealing over $60,000 from the credit union.
Fresh Today
WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has issued a proposed rule amending financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT) programs to explicitly require that such programs be “effective, risk-based, and reasonably designed,” enabling financial institutions to focus their resources and attention in a manner consistent with their risk profiles.
WASHINGTON –Treasury and the Internal Revenue Service have released final regulations on the IIJA’s reporting requirements for brokers of digital assets, which align these requirements with longstanding reporting requirements for traditional financial services, according to Treasury.
NAPERVILLE, Ill.–State leagues in two states have announced leadership changes.
NEW YORK—Consumers and businesses are pivoting toward faster and digital payment options—at a pace maybe faster than many expected.
CHICAGO—Aeropay, a provider of pay-by-bank solutions for businesses that began with cannabis retailers and gaming companies, reported it is now expanding into Visa’s and Mastercard’s territory by innovating the payment networks.
BRUSSELS, Belgium—Swift reported it is working on two AI-based experiments in collaboration with its member banks it said is designed to explore how the technology could assist in combatting cross-border payments fraud and save the industry billions in fraud-related costs.
ORLANDO, Fla.–In a case over card “swipe fees,” the Supreme Court has issued another decision that makes it easier to challenge federal regulations, ruling the six-year statute of limitations clock under the Administrative Procedures Act does not start ticking until a plaintiff is adversely affected by the regulation.
STEVENSON, Wash.–During remarks to a meeting of bankers here, Federal Reserve Gov. Michelle Bowman suggested that credit unions could be the beneficiaries of increased regulatory scrutiny of bank mergers should credit union acquisitions of banks not be held to the same level of review as traditional bank combinations.
JACKSON, Miss.–The president of the Mississippi Bankers Association has authored an op-ed that has appeared in multiple news publications in the state that argues that not only do credit unions not pay taxes, they are using the tax savings to buy banks and hurting local communities in the process.