SYRACUSE, N.Y. – Empower FCU said yesterday it is giving $2.5 million to members as part of its "Empower Economic Stimulus Plan."
The payout will include a 4.3% refund on loan interest paid by members in 2008 and a 4.3% bonus on dividends earned by savers last year.
Empower, a $715 million credit union created with the 2007 merger of Empire FCU and Power FCU, had a very successful and more than tripled its net income to $5 million.
Public comments on the Office of the Comptroller of the Currency's GENIUS Act implementing regulations highlighted the rift between banks and crypto firms over the permissibility of yield on stablecoin holdings, an issue that has stalled crypto market structure legislation for months.
The proposal is part of what SEC Chairman Paul Atkins calls his "Make IPOs Great Again" agenda.
Opportunity favors the prepared, and Cambridge Savings Bank had been saving for years to buy a nearby rival. Now, as the mutual bank announces plans to acquire First Seacoast Bank, it says it's found "the right deal at the right time."
Federal Reserve Gov. Michael Barr said Tuesday that the U.S. energy sector is more insulated from shocks than Europe's, particularly in natural gas prices. However, he warned that the war is pushing up gasoline prices, which could spill over into other parts of the economy.
If a card is immediately not easy and safe to use in an external app, consumers will quickly turn to another card, executives from Regions Bank, Pinnacle Financial Partners and Barclays warned American Banker's Payments Forum.
The payments company said payment volume increased, but net income decreased compared to 2025.
