CHICAGO - (08/29/05) If there is a shining need andopportunity for a CUSO to be formed, one analyst says it's in thearea of compliance. Guy Messick, a Media, Penn.-based attorney whospecializes in CUSO law, said he sees such a jointly-ownedcompliance CUSO as the only way smaller CUs will be able to cope.How can a credit union with three people that has the sameresponsibilities to comply with FinCEN as a billion-dollar creditunion stay in compliance?, he asked. Messick told The CreditUnion Journal he doesnt know of a CUSO that has been formedspecifically for the purpose of compliance, althoughCommunityAmerica Credit Union does operate Counter IntelligenceAssociates as a CUSO and it does offer some relatedservices.
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The effort to establish rules governing consumers' access to their financial data has been effectively derailed by litigation, moves made by the Trump-era CFPB and JPMorganChase's decision to start charging data aggregators for access to customer data.
17m ago -
Strong loan and deposit growth led to a double-digit increase in revenues and an even bigger jump in profits at the Columbus, Ohio-based regional bank.
October 17 -
Flagstar shareholders approved a plan to merge its holding company into the bank; Huntington tapped a new chief auditor, along with two new business leaders; First Foundation hired a new chief credit officer; and more in this week's banking news roundup.
October 17 -
In a tough quarter for the auto industry, the Detroit-based lender posted earnings that sped past Wall Street's expectations.
October 17 -
Approximately three years after the one-time non-depository bought Roscoe (Texas) State Bank, Cornerstone Capital Bancorp agreed to purchase Peoples Bancorp.
October 17 -
Regional banks say their asset quality is solid amid skittish investors. The KBW Nasdaq Regional Banking Index was largely stable Friday after falling by as much as 7% the day before.
October 17