ALBANY, N.Y. - (01/05/05) -- AmeriCU CU has applied to the stateBanking Department to convert to a community charter serving morethan 1.2 million people in central New York, which would be thelargest community field of membership ever granted for statecharters in the Empire State. The $550 million credit union hasrequested permission to serve residents of Cayuga, Cortland,Madison, Oneida, Onondaga and Oswego counties, as well as twounderserved areas of Jefferson-Lewis County and Herkimer counties.The credit union was chartered in 1950 to serve the former Rome AirDepot, now Griffiss Air Force Base, and currently serves 400 selectgroups.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
September 17 -
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
September 17