SEOUL, South Korea–South Korea's financial services regulator has asked major commercial banks to prepare approximately $4 billion in financing to support credit unions hit by member withdrawals, two banking sources told Reuters.
Fresh Today
WASHINGTON—The Federal Trade Commission said a settlement has been reached with bankrupt cryptocurrency platform Celsius Network that will permanently ban it from handling consumers’ assets.
WASHINGTON–American households are earning an additional $121 billion in income on investments annually versus a year ago, helping to offset the $151 billion increase in interest payments on mortgages, credit cards and other loans, according to Commerce Department data through June as cited by the Wall Street Journal.
LAKEWOOD, Wash.– Harborstone Credit Union has entered into a definitive agreement to acquire Seattle-based First Sound Bank.
ST. PAUL, Minn.–Two of Minnesota’s largest credit unions have announced they are seeking to merge.
MONTPELIER, Vt. – In a coordinated effort, New England Federal Credit Union and VSECU, which are in the process of merging, said they committed a quarter-million dollars in donations to provide assistance following catastrophic flooding that has “devastated downtowns and upended the lives of thousands of Vermont residents.”
WASHINGTON—NAFCU, the Defense Credit Union Council, the Veterans of Foreign Wars, and TruStage have sent a joint letter in response to the agency’s proposed rulemaking regarding charitable donation accounts (CDAs).
WASHINGTON— The legal standard of “any reasonable means” to revoke consent when it comes to consent is difficult to interpret for callers and encourages legal action, according to NAFCU and a number of other groups.
CHORPUS CHRISTI, Texas—A federal court in Texas has delayed implementation of the CFPB’s small business lending data reporting rule until the Supreme Court rules on the constitutionality of the Bureau’s funding structure.
WASHINGTON—The Treasury’s Community Development Financial Institutions (CDFI) Fund’s Community Development Advisory Board (CDAB) met this week, with its CDFI Certification Subcommittee offering several recommendations to the application process echoing credit union concerns and recommendations, according to CUNA.