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PHIILADELPHIA–A member of the Federal Reserve Board said the reason there have been so few de novo banks in recent years is the result of developments that include what are known as “charter-strip” banks, the shift to a “shadow banking” system, and the growth of “banking as a service.”

HAMPSHIRE, U.K.–Reinforcing a message often heard in credit unions about the importance of getting a CU’s card to top of wallet, a new study from Juniper Research is predicting transaction value of recurring payments will exceed $15.4 trillion globally in 2027, from $13.2 trillion in 2023.

CHICAGO–Millennials feel “more obligated to responsibly manage their finances” than do other generations, according to survey conducted by Alliant Credit Union.

WASHINGTON—To help stop “illegal” robocalls from overseas, the Federal Trade Commission (FTC) has said it has implemented Project Point of No Entry (PoNE), which targets “point of entry” or “gateway” Voice over Internet Protocol (VoIP) service providers and warning they must work to keep illegal robocalls out of the U.S.

WASHINGTON —The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated sanctions against Genesis Market, one of the world’s largest illicit marketplaces, for its part in the theft and sale of device credentials and related sensitive information.