CHICAGO-Alliant CU unveiled its own charitable foundation last week with a start-up contribution from the credit union of $4 million.
The Alliant CU Foundation will be organized as a 501(c)3 which will allow credit union members and the public to make tax-deductible donations to the organization.
Among those attending the kick-off were John Bryant, founder of Operation HOPE and leaders of outreach for Chicago schools, which will partner with the new foundation.
The USA Patriot Act passed on an overwhelming bipartisan basis in the wake of the 9/11 attacks, overhauling banks' involvement in anti-money-laundering efforts.
The institution tested USBDC in an international payment ahead of a wider rollout and amid its work on the cross-industry Open Standard stablecoin project.
The global rise of online gambling has created a range of new money-laundering risks for banks and other companies, according to the Financial Action Task Force, an international standard-setting organization.
Federal banking regulators say as many as 188 community banks may qualify for the extended exam cycle following implementation of the measure, which is required as part of the recently passed housing bill.
A gathering for LGBTQ advisors and allies the day before LPL's flagship Focus conference drew executives, big-name sponsors and a standing-room crowd. So Marci Bair and other organizers are planning a standalone event next spring.
Consumer advocacy group Better Markets filed a lawsuit in federal district court Thursday claiming the Federal Reserve's top regulator coached bankers on how to comment on proposed capital rules in "secret meetings."
