PORTLAND, Ore. – City officials here said they have enacted the initial provisions of a new Responsible Banking Resolution and made deposits of $250,000 in each of 10 Oregon credit unions and banks.
The credit unions receiving deposits are Advantis CU and OnPoint Community CU.
The money came from liquidating $2.5 million of the city’s roughly $800 million in U.S. Treasuries and other securities.
The aim of the resolution is to keep the city’s deposits in local institutions.
Support for Citi's annual say-on-pay resolution fell steeply, with about 60% of shareholders voting in favor of the bank's 2025 executive-compensation program. The decline is likely related to a one-time equity award to CEO Jane Fraser and concerns about how the bank determines incentive pay.
The House passed housing legislation that includes a slightly pared-down institutional investor housing ban, as well as a raft of community bank measures.
The White House issued an executive order Tuesday requesting that the Federal Reserve review access to payment accounts for fintechs and digital asset firms.
A Senate Commerce Committee hearing Wednesday underscored the debate over whether the Commodity Futures Trading Commission has the capacity to regulate the rapidly growing prediction markets industry.
New research suggests customers are willing to accept some friction in exchange for more robust fraud controls.
The card brand says advanced artificial intelligence is making it easier for crooks to trick consumers, but the technology also allows banks to fight back.
