Ten more credit unions have sold their card portfolios, representing approximately $56 million in total outstandings. The sale was brokered by AssetExchange here. Selling their portfolios to InfiCorp were Old Hickory Credit Union, Tennessee; Sun Community FCU, California; Triangle CU, New Hampshire; Community Financial FCU, Colorado; and Guardian CU, Wisconsin. Selling their portfolio to credit union-owned TNB Card Services, Dallas, were Advantage Plus FCU, Idaho, and Windsor Locks FCU, Connecticut. Asset Exchange said the identities of three other CUs selling their cards would remain undisclosed.
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Alessandro DiNello, who served as Flagstar's executive chairman in 2024, said he's leaving in order to enjoy his retirement. Meanwhile, a lawsuit accusing him of various wrongdoings is still pending.
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Cybersecurity experts at RSAC urged banks to treat the transition to post-quantum cryptography as an enterprise risk, not just an IT headache.
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The Minneapolis-based regional bank is extending home-improvement loan durations by as much as two years in a bid to continue capitalizing on a long-running remodeling boom.
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The Department of Labor proposed a rule that would bring private credit more into retirement accounts, as pockets of the market bubble up and some point to contagion.
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The government MBS guarantor ended a 15-day advance notice mandate for extensions on a filing deadline so those with a March 31 due date can still ask for one.
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The federal court rejected Flagstar's attempts for both a panel rehearing and an en banc hearing to overturn California's interest on mortgage escrow rule.
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