WASHINGTON - (06/20/06) CUNA reported Monday itspolitical action committee raised $182,000 last month anddistributed $115,000, leaving it with $582,000 as the two-yearcongressional election cycle enters its fourth quarter. Among thecontributions last month was $5,000 going to Independent VermontRep. Bernard Sanders, making the maximum $10,000 contributed to theSenate campaign of the only avowed Socialist in Congress. CUNA alsocontributed $5,000 to the campaign of Democratic State Sen. PeterWelch to fill Sanders place in Vermonts only Houseseat. CUNA also contributed $5,000 to another potentialcongressional newcomer, Republican State Sen. Jim Jordan, who isrunning for the states fourth district House seat. Otherlarge contributions last month went to: Reps. John Dingell, D-Mich.($5,000); Carolyn Kilpatrick, D-Mich. ($5,000); Vern Ehlers,R-Mich. ($5,000); Vic Snyder, D-Ark. ($5,000); Jerry Weller, R-Ill.($5,000) and Sen. Daniel Akaka, D-Hawaii ($4,500).
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BNY, Huntington Bank, U.S. Bank, American Express, Visa, Mastercard, Stripe, and Coinbase are just a few of the companies that have signed on to use the dollar-backed stablecoin issued by technology firm Open Standard.
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Securities and Exchange Commission Chair Paul Atkins said tokenized bank deposits are likely to be a reality in 2027, and added that he is working with banking agencies on digital assets and capital requirements.
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After two different community bank M&A deals, Flagstar Bank consolidated its data centers from six facilities to two as part of its tech integration strategy.
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The bank deepened its relationship with Circle Internet Group, letting institutions store, transfer, mint and burn USDC.
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As a subsidiary of Bank of America, Merrill uses a BofA software program to monitor and report suspicious activity. For years, the Securities and Exchange Commission says, that program fell short.
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The Federal Deposit Insurance Corp. says executives "gambled" with depositor funds, while the former parent company argues regulators are using hindsight to second-guess what were reasonable business decisions at the time.
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