WASHINGTON—With Congress and state legislatures either considering or passing laws related to the creation of a central bank digital currency, Federal Reserve Chairman Jerome Powell told the Senate the U.S. is “nowhere near” CBDC development.
Fresh Today
MIAMI–Perhaps not surprisingly, residents of America’s biggest cities are feeling the most financial distress, while those who live in the long-time symbolic home to America’s credit unions are feeling the least stress, according to a new analysis.
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.
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.