NCUA Chairman Dennis Dollar announced participated in the White House Conference on Faith-Based and Community Initiatives in Portland, Ore. last week. NCUA's Director of CU Development Anthony LaCreta served as a presenter on the community development panel, along with representatives of other agencies. For info: www.whitehouse.gov/ government/fbci.
Online fraud typically spikes when holiday shopping begins in November, but so-called friendly fraud poses another big threat this year with the pandemic pushing more consumers — and inexperienced merchants — to online sales channels.
Citigroup is now the third, and largest, U.S. financial institution to offer the Mastercard True Name feature, which lets customers use their preferred name, rather than their legal name, on credit and debit cards. The cards are targeted specifically for transgender and nonbinary people, who often face outsized financial hardship.
In an exclusive interview announcing the regulator's new financial inclusion program, NCUA Chairman Rodney Hood explains why the time was right to double down on the agency's efforts to expand access for marginalized communities.
Gary Cohn, former head of the Trump administration’s National Economic Council and onetime top executive at Goldman Sachs, says technological changes will continue to make it harder for smaller financial institutions to compete and force many to be sold.
Other central banks have considered phasing out cash as they explore digital currencies. Should the idea take hold in the U.S., Federal Reserve Chairman Jerome Powell said it would not replace the physical dollar.