TULLAHOMA, Tenn. -- Ascend Federal CU is the new name for the state’s largest federally chartered credit union—known for years as AEDC FCU because its original sponsor was the Arnold Engineering Development Center at Arnold Air Force Base here. Since its chartering in 1951, the credit union has grown to serve more than 120,000 members in over 600 select groups, reaching $1.2 billion in assets. Despite its broad field of membership, credit union officials hope the name change will help remove the perception that you have to work at the base to become a member.
-
Legal experts say President Trump's unprecedented move to fire Cook over alleged past misconduct will likely be hashed out in court, but there is little precedent to determine whether a sitting board governor can be removed for past actions.
33m ago -
Aron Levine, the Canadian bank's new U.S. president, said BMO intends to invest in technology and spend more on branches. The company's moves, which also include the recent combination of its U.S. businesses, are part of a plan to boost its return on equity.
39m ago -
A proposed rule published Tuesday in the Federal Register would limit the Consumer Financial Protection Bureau's ability to designate nonbank entities for supervision.
55m ago -
The Federal Deposit Insurance Corp. said Tuesday that bank profits slipped slightly in the second quarter as the Capital One-Discover merger drove provisions higher. Loan growth, deposits and insurance fund reserves showed positive signs despite ongoing credit issues.
2h ago -
The card brand is reportedly focusing on other markets amid uncertainty in U.S. regulations and as banks consider fees for data sharing.
3h ago -
President Trump posted a letter on social media addressed to Federal Reserve Gov. Lisa Cook, informing her that he was terminating her due to allegations of mortgage fraud. The move is likely to tee up an unprecedented legal fight over the Fed's independence.
August 25