BASEL, Switzerland–The Basel Committee on Banking Supervision has released the final version of its standard on Interest Rate Risk in the Banking Book, which is its formal guidance on monitoring, controlling and supervising interest rate risk, and it includes response to comment letters filed by the World Council of Credit Unions in 2015.
Fresh Today
SAN FRANCISCO—Fitbit, which makes activity-tracking smartbands and phone apps, announced it is purchasing Coin, the San Francisco-based payments developer of the credit card-emulating Coin card.
LOS ANGELES—Children’s Hospital Los Angeles has received a commitment of $5 million from Credit Unions for Kids that will go toward the hospital’s Helping Hands Fund, which ensures all patients receive the critical, lifesaving care they need.
SAN FRANCISCO–A fintech start-up here, Varo Money, could in the future also seek its own bank charter.
SANTA ROSA, Calif.–Redwood Credit Union said it has entered into a unique partnership with seven local lending institutions that have pledged to invest $250,000 to create the Sonoma County Loan Fund: a micro lending pool for startup and expanding entrepreneurs who typically do not qualify for traditional financing.
ALEXANDRIA, Va. –NCUA has introduced a new effort it said is aimed at modernizing the agency’s examination and supervision program.
MADISON, Wis.–Credit union loan growth is approaching its fastest pace in nearly two decades and asset yields should increase by nine basis points as a result, according to the newest CU industry numbers released by CUNA Mutual Group.
WASHINGTON–New home sales surged during April, with the volume representing the biggest one-month jump in 24 years.
NEW YORK–Household debt in the U.S. was up 1.1% during the first quarter, due largely to increased mortgage borrowing, according to the Federal Reserve Bank of New York.
WASHINGTON—NAFCU has sent a letter to the House stating its support for language in the FY 2017 Financial Services & General Government Appropriations Bill that would replace the sole director of the CFPB with a bipartisan five-person commission.