In the News
Federal Reserve Officials Warn Entrenched Inflation Poses ‘Significant Risk’
sCourtesy of Colby Smith, Financial Times Minutes from June meeting suggest even tighter monetary policy may be needed from US central bank. Top Federal Reserve officials think entrenched inflation is...
Member Benefit: FinCEN and CFPB Summaries
Financial Crimes Enforcement Network (FinCEN), Treasury ACTION: Advance notice of proposed rulemaking. No-Action Letter Process TOPIC: FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment...
US Expansion for Huobi a Step Closer After It Secures a FinCEN License
It says users in the United States can expect digital asset services to come in the future. A subsidiary of the Huobi cryptocurrency exchange called HBIT Inc has received its...
Member Benefit: CFPB Summary on the Request for Information Regarding Relationship Banking and Customer Service
BUREAU OF CONSUMER FINANCIAL PROTECTION [Docket No. CFPB–2022–0040] Federal Register Posting: Request for Information Regarding Relationship Banking and Customer Service AGENCY: Bureau of Consumer Financial Protection. ACTION: Request for information....
New Report Explores the Impact of Credit Card Line Decreases on Consumers
June 29, 2022 — When credit risk is on the rise, such as during an economic downturn, credit card companies may look at reducing consumers’ available credit limits to prevent...
Bitcoin Drops to Nearly $19K as Fed Renews Inflation Warnings
Jun 30, 2022 — Central bank leaders warned Wednesday that inflation is going to last longer than some estimated. Bitcoin fell toward $19,000 during Asian afternoon hours after central bankers...
Bank Policy Institute Offers Feedback on SEC’s Climate Disclosure Policy
Courtesy of Dave Kovaleski, Financial Regulation News June 20, 2022 — The Bank Policy Institute (BPI) offered feedback on the Securities and Exchange Commission’s (SEC) proposed climate disclosure policy, expressing...
Cornerstone League and Heartland Credit Union Association to Explore Merger
Jun 23, 2022 — Cornerstone and HCUA merger committees have begun the due diligence process. The Cornerstone League and Heartland Credit Union Association are exploring the possibility of a merger....
CFPB & FDIC BoD on the Amended Deposit Insurance Fund Restoration Plan and Revised Deposit Insurance Assessment Rates
One of the FDIC’s most important responsibilities is to prudently manage the Deposit Insurance Fund. The FDIC’s ability to credibly guarantee our nation’s insured deposits is vital for the stability...
Would You Accept an NFT as Loan Collateral? Some Lenders Already Have.
Can non-fungible tokens (NFTs) disrupt the lending market? And should credit unions, which are showing heightened interest in cryptocurrency, be entering this space as well? Article courtesy of Ray Birch,...
Top 21 Emerging Cyber Threats and How They Work
June 7, 2022 — Cyber attacks, hacking, and data breaches are a growing threat. Yet, many companies could have prevented these threats with a bit of risk management and a...
FinCEN Issues Advisory on Elder Financial Exploitation
Urges Financial Institutions to Aid in Combatting Growing Threat June 15, 2022 — The Financial Crimes Enforcement Network (FinCEN) is issuing an advisory to alert financial institutions to the rising trend...