MANHATTAN BEACH, Calif. – An article in Monday's CUJ Daily briefing about a rebound in California incorrectly said Kinecta FCU reported a $3 million loss for the first half of the year because of a $3.6 million NCUA charge. Kinecta actually reported net income of $3 million for the first half in spite of the NCUA charge.
The Small Business Administration's proposed rule increasing the size of firms eligible for government-backed loan programs could boost the appeal of SBA loan programs to banks and credit unions, but it's drawing sharp criticism from smaller firms.
Financial institutions were among 300-plus U.S. organizations robbed in a 2024 campaign.
The 2025 tax law changed the factors involved in the decision to convert a traditional IRA to a Roth.
Five payment companies were named as defendants in a case that could set a precedent for both prediction markets and the financial firms working with them.
A lawsuit accusing U.S. Bank of harassing and discriminating against its former head of AI can proceed following a federal magistrate judge's ruling. The suit's defamation and blacklisting claims, however, were thrown out.
A former Democratic congressman will serve as vice president of wholesale banking at Truist Financial; Bank of America's $72.5 million settlement with sex trafficking victims of the late financier Jeffrey Epstein is approved by a New York federal judge; HDFC plans to challenge the bankruptcy resolution involving a personal guarantee by media tycoon Subhash Chandra; and more in this week's banking news roundup.
