AUBURN HILLS, Mich. - (08/09/05) -- Cornerstone Community Financial (CU)is trumping all of the local competition with a one-year CD at 10%for a deposit between $500 and $2,500. That's double the rate paidfor the national average of 4.30%. To receive the high rate, new orexisting members must open an active Cornerstone CommunityFinancial checking account or sign up for direct deposit.Cornerstone Community Financial CU was formerly known as Mo-ParFCU.
The credit union closed three of its overseas locations in response to the conflict. Military-focused financial institutions are instead offering digital banking to deployed servicemembers.
Fintechs and the technology behind cryptocurrency are becoming popular, putting trillions in transaction value at risk for banks, according to Accenture.
Stripe has expanded its Shared Payment Tokens, a foundational building block to protect agentic commerce, to work with Visa and Mastercard's tokens. It's also added Affirm and Klarna.
The Bureau of Labor Statistics reported that the economy lost 92,000 jobs in February while unemployment held steady at 4.4%, a development that could spur the Federal Reserve to question whether interest rates are truly in balance.
Five major U.S. banks are engaging in costly litigation rather than reimburse fraud claims of a 72-year-old dementia patient who lost $337,000 in a romance scam. The victim's lawyer says banks are not abiding by the consumer protection process.
Federal Reserve Vice Chair for Supervision Michelle Bowman played down the significance of Kraken Financial receiving a master account, saying the central bank is treating it as a pilot program.
