WASHINGTON—A number of federal departments and agencies, including NCUA, have issued a statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively.
THE news
MADISON, Wis.–Credit union membership grew by more than a half-million during July alone, while the overall CU loan-to-share ratio hit a 37-year high, according to new data.
LA CROSSE, Wis.—Marine Credit Union said it has received regulatory approval to acquire 10 Old National Bank branches through a purchase agreement announced April 2018 and reported earlier in CUToday.info here.
ALEXANDRIA, Va.—Low-income credit unions sustaining damage from Hurricane Florence are eligible for urgent needs grants up to $7,500 from NCUA to help restore operations, the agency reported Monday.
SAN FRANCISCO–After years of scandals and a government-imposed cap on its growth, Wells Fargo has said it will eliminate as many as 26,500 jobs over the next three years.
TACOMA, Wash.—The $1.5-billion Sound Credit Union has agreed to acquire the $200-million Bank of Washington, based in Lynwood, Wash.
SPOKANE VALLEY, Wash.–Horizon Credit Union has hit $1 billion in assets and revealed a celebration surprise to employees at the annual employee appreciation barbecue.
NEW YORK–Ten years after the crash of many of the biggest Wall Street Banks and the onset of the Great Recession, many employees of those banks have seen billions of dollars in payouts, while others have seen almost nothing at all.
CAMPBELL, Calif.—Business email compromise (BEC) attacks—one of the most prevalent types of cyberfraud—are getting much harder to fight, according to one company.
AUSTIN, Texas—Fintechs are driving credit unions to spend more on technology, particularly mobile.