WASHINGTON—The Federal Reserve is collaborating with seven central banks and the Bank for International Settlements (BIS) to hammer out a framework for digital currency.
THE globe
CU News From Around the Planet
LONDON–The outlook of consumers around the world is improving, but significant concern remains that will depress consumer credit demand and risk appetite well into the post-pandemic recession, according to a new analysis from GlobalData.
MADISON, Wis.–The international credit union movement added more than 17 million members during 2019 to reach a new membership high of more than 291 million in 118 countries, according to World Council of Credit Unions’ 2019 Statistical Report.
LONDON–Credit unions with members who travel (or hope to travel) in Europe should note card fraud losses across the continent have continued to rise, with nearly half of all losses coming in the United Kingdom.
SINGAPORE—Open banking continues to take hold across the globe.
JERUSALEM—In a newly proposed bill, the Israeli Knesset outlined several changes related to the taxation of Bitcoin
NEW YORK — Tax abuse, money laundering and corruption plague the global financial system, a high-level UN panel reported in an interim report it said underscores the need for urgent reforms.
BRUSSELS, Belgium—The European Commission, executive branch of the European Union, has adopted a new Digital Finance Package that includes digital finance and retail payments strategies as well as legislative proposals on crypto-assets.
SYDNEY, Australia—Westpac Banking Corp. has reached an agreement with the Australian Transaction Reports and Analysis Centre (Austrac) to settle the anti-money laundering and counter-terrorism financing allegations.
CALGARY, Alberta–Credit Unions of Alberta have named the winners from its “Class of 2020: Own Your Financial Future” contest.