TORONTO – The National Federation of CDCUs is expected to announce an initiative in the next few days in cooperation with the National CU Foundation to place Development Educators in CDCUs on a short-term basis. Cliff Rosenthal, executive director of the Federation, told The Credit Union Journal the project will provide much-needed help for CDCUs in areas of expertise for the Educators group, such as finance, accounting and operations. There are more than 600 active Development Educators, a program conducted by CUNA that gives participants a comprehensive initiation in credit union history, philosophy and operations.
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The two companies are collaborating on making the digital asset private for payroll and other business transactions. While it's unusual, as the most well-known stablecoins are on public ledgers, tech firms are warming to the idea.
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Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
October 20 -
The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.
October 20 -
Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.
October 20 -
The Boston-based bank is the second bank in three months to face pressure to sell by the activist investor group HoldCo Asset Management.
October 20 -
Comptroller of the Currency Jonathan Gould said in an interview with American Banker that his agency is looking at whether its own internal guidance may have contributed to a climate where banks feel the need to "cite everything" to avoid supervisory penalties.
October 20