WASHINGTON – The Partnership FCU, formerly FDIC Employees FCU, was approved by NCUA to expand its field of membership to serve 7,000 employees of Fannie Mae and Freddie Mac in Washington, Philadelphia, Atlanta, Chicago, Dallas and Pasadena, Calif.
The $125-million credit union currently serves employees at the Federal Deposit Insurance Corp., the National Sciences Foundation, the U.S. Secret Service, and several other select groups.
The Mortgage Bankers Association found gains in March for conforming, jumbo and government-sponsored loan indices for the third consecutive month.
Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.
A new analysis from the White House's Council of Economic Advisers says the banking industry's fears about deposit flight are overstated. Experts familiar with the banking industry's concerns say the report's conclusions are beside the point.
The card brand introduced tech for businesses to tap agentic AI, while Revolut counters Italy's accusations of inaccurate marketing. That and more in the American Banker global payments and fintech roundup.
The Treasury Department Wednesday proposed a set of rules that would require stablecoin issuers to abide by risk-based anti-money-laundering programs similar to those that banks must employ, as well as secondary market monitoring and independent testing by issuers.
Closing its Brex acquisition adds a corporate-focused fintech and new agentic commerce tools to an already considerable consumer payments division.
