SEATTLE––The CEO of Binance, which is the world’s largest cryptocurrency exchange, has exited the job after pleading guilty to violating anti-money-laundering requirements, while the company has agreed to pay a $4.3-billion as part of a deal that might preserve the company’s ability to continue operating.
PLANO, Texas–Giving thanks this year is going to cost about a third more than in 2022.
WASHINGTON–Total mortgage origination volume is expected to increase to $1.95 trillion in 2024 from the $1.64 trillion expected in 2023, according to a new forecast from the Mortgage Bankers Association (MBA).
WASHINGTON—In response to the CFPB’s release of an outline of proposals under consideration for the Bureau’s rulemaking effort related to the Fair Credit Reporting Act (FCRA), NAFCU, CUNA and other trade groups are calling on the Bureau to follow the “proper process and issue an advance notice of proposed rulemaking (ANPR)” before moving forward with a proposed rule.
NEW YORK—New research has found half of U.S. consumers tried using a new payment method in the past year, and 16% switched to a new one.
WASHINGTON—The Federal Reserve has announced pricing, effective Jan. 2, 2024, for payment services Fed banks provide to banks and credit unions, such as the clearing of checks, automated clearing house (ACH) transactions, and wholesale payment and settlement services.
WASHINGTON— The Consumer Financial Protection Bureau and 11 states are reporting Prehired has agreed to provide more than $30 million in relief to student borrowers as the result of making false promises of job placement, trapping students with “income share” loans that violated the law, and resorting to abusive debt collection practices when borrowers could not pay, the agency reported.
MINNEAPOLIS–Even though national banks issue 68% of all consumer credit cards, a quarter of consumers say they would likely choose a credit union or community bank for their next card, according to a new study.
CHICAGO–Great Lakes Credit Union said it has partnered with Leaders Network Financial to open the doors to a temporary branch location in Chicago’s Austin neighborhood.
WETHERSFIELD, Conn.–Dutch Point Credit Union said it has become the first in the state to offer members a new Convertible HELOC, which it said offers cost savings and flexibility in a high-rate environment.
