WASHINGTON-In its analysis of NCUA's new rules for corporates, CUNA said it is most concerned with the costs of dealing with so-called "legacy assets" and the resulting impact on credit unions, according to Mary Dunn, head of regulatory compliance. "There is a lot of concern that in 2011 and 2012 there is potential for somewhat higher assessments for the stabilization fund. It is an issue we will be monitoring," she said.
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After a California woman spent more than a decade obtaining reparations for Nazi plundering of her family's belongings, the money disappeared from her bank account. Her saga highlights a gap in fraud cases between what consumers expect from their banks and what those banks are in a position to deliver.
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Federal Reserve Governor Lisa D. Cook highlighted concerns over private credit growth, commercial real estate distress and escalating cyber threats in remarks on financial stability at the Brookings Institution Wednesday.
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Consumer debt aggregators such as Method, Payitoff, Spinwheel and Tally are partnering with financial institutions to embed solutions that aggregate account information and devise ways to optimize repayment — including with low-interest offers from the bank itself.
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Federal Deposit Insurance Corp. Chair Martin Gruenberg will testify next week in Congress. Those hearings — which will come after the publication of a bombshell report detailing widespread misconduct at the agency — could signal whether he has a future at the FDIC.
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Bank stocks are up this year as interest rates have leveled off and there are hopes that pressure on lenders' profits could moderate.
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National Australia Bank is adding a Pay By Bank option for near-instant payments, Italy is bringing open-loop payments to buses in Tuscany, and more.
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