LA CROSSE, Wis. – Two local credit unions have joined with 10 area banks to offer $5 million in low-interest loans to help improve the downtown. Interest rates for loans through the Downtown Mainstreet Inc. will be the current prime rate of 8.25% minus 2%, fixed for five years. After that the rate will revert to prime for the rest of the loan term. Participating credit unions are Community CU and Altra FCU.
Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
FiCare asked a judge to stop Fiserv from using automated checks to lift fraud holds. Fiserv says the credit union could have turned on one-time passcodes.
The federal agency's proposed definitions characterize event contracts as swaps, but exclude "casino-style" gambling.
Advisory practice sellers frequently wish they had taken more time for important strategic tasks before the deal, David Grau of Succession Resource Group says. He provided a list explaining why the timeline will take longer than many sellers may think.
Federal Reserve Vice Chair for Supervision Michelle Bowman said banks are making use of expanded balance sheet capacity to increase their Treasury holdings.
OUSD, the new stablecoin from Open Standard, a consortium of more than 140 banks, fintechs, payments companies and crypto firms, has drawn interest, in part due to its shared economics model.
