WASHINGTON—Sen. Elizabeth Warren (D-MA) said she is willing to work with the crypto industry, but believes it must follow the same anti-money laundering rules and regulations as traditional financial institutions, according to a new report.
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MALVERN, Penn.‑AKUVO, which provides collections and credit risk solutions, has announced the launch of “Virtual Collector.”
TAIPEI, Taiwan—Taiwan’s Financial Supervisory Commission announced it will propose a new draft of digital asset regulations for the country in September 2024.
TACOMA, Wash.—Keeping up the strong pace of bank buys in 2024, the $2.9-billion Sound Credit Union here has agreed to buy $104-million Washington Business Bank, based in Olympia, Wash.
MADISON, Wis.–Credit unions closed 2023 with 15.2% of the consumer loan market, up from 14% one year earlier and marking the highest percentage on record, according to TruStage’s new Trends Report data.
WASHINGTON–The National Federation of Independent Businesses is coming off the sideline and staking a position in favor of the Credit Card Competition Act, saying passage is now one of its priorities.
FT. WORTH, Texas–A lawsuit has been filed against the Consumer Financial Protection Bureau over its new rule capping late fees on credit cards at $8. The plaintiffs allege the rule punishes consumers who pay their bills on time.
ST. PETERSBURG, Fla.–PSCU/Co-op Solutions is calling on its member credit unions to make their “collective voice heard” on a variety of card and interchange-related legislation and proposals in Washington.
WASHINGTON— During 2023 the nation’s 4,587 commercial banks and savings institutions insured by the FDIC had aggregate full-year net income of $256.9 billion, down $6 billion (2.3%) from the prior year, according to the federal deposit insurer.
WASHINGTON–Some credit unions may find their small business lenders being hit with collections letters as the Small Business Administration has begun referring as much as $20 billion in delinquent COVID disaster loans with balances of $100,000 or less to the Treasury Department for collection.