An article in Tuesday's Daily Briefing reported that U.S. Central charged off $800,000 of exposure related to Lehman Brothers and is expected to take additional charges. According to NCUA, U.S. Central wrote off all of its exposure to Lehman Brothers interest rate derivative contracts when the firm filed for bankruptcy in fall 2008 and has no residual loss exposure to any prior Lehman Brothers investment.
The social media app has partnered with Cross River to manage tasks such as compliance and deposit insurance. But fintech experts say more work is needed before X can threaten traditional banks.
Big banks, including San Francisco-based Wells Fargo, are eager to defend themselves from the competitive threat posed by stablecoins, analysts say.
The remittance company and stablecoin payments platform Rain are launching Stablecard, a digital wallet and Visa secured credit card backed by Western Union's stablecoin, the U.S. Dollar Payment Token, or USDPT.
Two presentations at The American College of Financial Services' CAAFP discussed how successful careers in the industry require both technical and emotional skills.
The Federal Deposit Insurance Corp. announced the launch of its Office of Supervisory appeals, which will be helmed by a panel of three officials with combined supervisory and banking experience and will review bank-led appeals of supervisory findings.
One advisor calls the expected transfer a mirage; others say it may simply unfold more slowly and require more intentional planning.
