The Texas Credit Union Foundation (TCUF) said it is partnering with Hope Coalition America and Texas Saves to recruit volunteers in the state to join the HOPE Corps and provide "financial triage" help for victims of Hurricane Katrina. Hope Coalition America works in conjunction with FEMA, the Red Cross and other local and national agencies to assist natural disaster victims with such tasks as obtaining lost or destroyed personal identification and Social Security numbers, emergency budget management and credit counseling, assistance in working with creditors, etc. Volunteers are needed to provide financial guidance and assistance at FEMA Disaster Recovery Sites, local shelters and interim housing sites. Those interested in signing up can visit www.operationhope.org.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
September 17 -
Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
September 17 -
St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
September 17 -
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
September 17 -
State regulator says blockchain tools are key to detecting money laundering and sanctions violations.
September 17