Advanced search

BRUSSELS, Belgium— The FDIC will begin allowing private-equity firms and other nonbanks to bid on failed banks, a major policy shift intended to make future resolutions faster and less costly, Acting Chairman Travis Hill announced.

WASHINGTON—America’s Credit Unions Chief Economist Curt Long said the organization’s forecast group expects modest economic growth and additional rate cuts by the Federal Reserve before year-end.

PLANO, Texas—The federal government’s sweeping reductions in force (RIFs)—the largest mass terminations in modern U.S. history—are beginning to ripple through the broader economy, with potential consequences for household finances, consumer spending, and credit union balance sheets, says one economist.

MINNEAPOLIS –A new survey from U.S. Bank found that Many Americans are making smart, responsible choices – budgeting, investing, cutting back on spending.

NORTH AUGUSTA, Ga.— SRP Federal Credit Union here has defeated a proposed class-action lawsuit alleging it negligently failed to protect the personal information of members.

WASHINGTON—Senate Banking Committee Republicans are preparing to unveil legislation that would raise the dollar thresholds for when financial institutions must report potentially suspicious transactions under the Bank Secrecy Act, POLITICO reported.

SAN JOSE, Calif.—PayPal is offering U.S. customers 5% cash back on purchases made through its Pay Later program, PYMNTS reported.

VALDOSTA, Ga.—The $420-million Southeastern Credit Union has named Jennifer Stasio president and CEO, effective Jan. 1, Valdosta Today reported.