VANCOUVER, Wash. - (10/20/05) -- Columbia CU said it has implementedKetera Contract Managament system. The system creates and analyzescontracts, and checks for employee compliance. A critical part ofthe system creates a 'source to pay' loop that allows users to cutpurchasing costs by improving supplier performance and streamlinesprocurement processes. Ketera is based in Santa Clara,Calif.
Federal Reserve Gov. Christopher Waller has directed central bank staff to explore the concept of a limited payment account, which would give nonbank entities in the payments space — including crypto firms — access to traditional payment systems.
Senate Banking Committee Republicans, led by committee chair Tim Scott, R-S.C., introduced a bill that would raise the mandatory reporting threshold for certain currency transactions, a move meant to ease banks' anti-money laundering compliance obligations.
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., is urging the Federal Deposit Insurance Corp. not to approve new Industrial Loan Company charters until Congress passes a law subjecting ILCs to bank holding company rules.
Banks and credit unions are steering away from stablecoins chiefly due to lack of customer demand, per new American Banker research.
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.
Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
