ELKHART, Kan.–A “pig-butchering” crypto scam that involved the theft of more than $47 million and which allegedly targeted and involved the bank’s former CEO is being blamed for the 2023 shutdown of that bank, according to a new report.
Fresh Today
WASHINGTON, D.C. —In its newly updated “Terms of Credit Card Plans” survey, the Consumer Financial Protection Bureau (CFPB) said it has found that large banks are offering worse credit card terms and interest rates than small banks and credit unions, regardless of credit risk.
ALEXANDRIA, Va.–The NCUA board has adopted revisions to an interpretive ruling and policy statement (IRPS) 13-1, which governs the Minority Depository Institution Preservation Program for credit unions.
WASHINGTON — In a new letter to the Federal Reserve, the American Bankers Association and 52 state bankers associations have expressed their strong opposition to what they said is the Federal Reserve’s “misguided proposal” to reduce the regulated debit interchange cap under Regulation II.
WASHINGTON—Ahead of this week’s hearing to examine potential regulatory overreach by the Department of Labor (DOL), America’s Credit Unions told the House on Education and Workforce subcommittee there is a CU perspective on the DOL’s proposed rulemaking redefining who is an investment advice fiduciary.
WASHINGTON—The Department of Veterans Affairs Home Loan Program needs an upgrade to help ensure veterans can stay in their homes, America’s Credit Unions and the Defense Credit Union Council wrote to a House Veterans Affairs subcommittee ahead of its hearing on the program.
ST. PETERSBURG, Fla.—Strong consumer spending is continuing in 2024, but there is a growing reliance on credit, PSCU reported, citing data from its February Payments Index.
WASHINGTON—Two more senators have signed on as cosponsors of the Credit Card Competition Act, which credit unions strongly oppose.
TUCSON, Ariz.–Pima Federal Credit Union has become the first credit union to send transactions through Catalyst Corporate on the Federal Reserve’s FedNow Service, after launching the second phase of its instant payment service on Jan. 28.
SAN DIEGO –LPL Financial Holdings has entered into a definitive purchase agreement to acquire Atria Wealth Solutions, Inc., a wealth management solutions holding company headquartered in New York.