The Credit Union 24 Network reported it hit an all-time high in monthly transaction volume, approaching 18-million transactions routed through the EFT network in December of 2005. The record-setting month reflects an increase of approximately 23% in transaction volume over December of 2004, Credit Union 24 stated. ATM and point-of-sale (POS) transaction volume in 2005 grew by nearly 30% over 2004 numbers to more than 182 million transactions. "Credit Union 24's consistent transaction growth stems from the network's efforts not only to attract more credit unions and cardholders, but also to broaden our credit unions' ATM and POS access," said Credit Union 24 President Jim Park.
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Threat group ShinyHunters claimed responsibility for the attack, which reportedly targeted third-party platforms rather than Betterment's own systems.
February 6 -
Artificial intelligence developments are stoking investor fears about software companies. Banks' limited exposure to the sector and general stability is proving attractive to investors.
February 6 -
Prosperity Bancshares finalizes the second of three acquisitions it's announced since July; Sumitomo Mitsui Banking Corporation appoints a new chief information security officer for its American operations; Huntington Bancshares, Third Coast Bancshares and Heritage Financial completed acquisitions; and more in this week's banking news roundup.
February 6 -
Fintech and crypto groups said in comment letters to the Federal Reserve that the proposed "skinny" master account is too limited and could keep firms dependent on banks. Banking groups asked for more time to comment.
February 6 -
Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
February 6 -
While the e-commerce giant has deemphasized the technology, banks and payment firms are testing the biometric option.
February 6





