ORLANDO, Fla. - (06/13/06) Just as the hurricane seasonswas approaching fast, CUNA unveiled a model of the new mobilefacilities it is making available to credit unions seeking to beprepared in the event of a major disaster. The new mobile branch,exhibited at CUNAs annual Future Forum, is being offeredthrough a new partnership with Agility Recovery Systems. The newmobile facilities are self-contained branch offices that Agilitypromises to have on-site within 24 to 48 hours of a creditunions request. The company said it has access to more than100,000 of the 12x20 modular facilities, which include two tellerstations, desks, and complete computer connectivity usingsatellite-based technology. The facilities include a generator andenough fuel to run for 24--to--36 hours, meaning if a credit unionoperates for eight hours or less per day it can be open for severaldays before needing to replenish fuel supplies.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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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.
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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.
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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.
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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.
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