With its Partnership Conference and Annual Meeting being held just hours before the World Champion Boston Red Sox hold a flag-raising ceremony and home opener, Eastern Corporate FCU is taking advantage by beginning the meeting with a baseball-themed event. Leading off was a panel discussion, "Inside Baseball: Meet the Regulators," moderated by Mary Ann Clancy, senior VP/general counsel for the Massachusetts Credit Union League. Joining her were NAFCU's Bill Donovan, NCUA's Mark Treichel, Massachusetts Commissioner of Banks Steven Antonakes, and New Hampshire league counsel Russ Hilliard. A raffle will be held to select two lucky credit union officials, who will be whisked via limousine to Fenway Park for the Red Sox game against the New York Yankees. The day wraps up with "Extra Innings," giving attendees a choice of three workshops on topical credit union issues.
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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.
September 17 -
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.
September 17 -
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.
September 17 -
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.
September 17 -
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.
September 17