LANCASTER, S.C. – Founders FCU announced yesterday it has expended its footprint in North Carolina with the acquisition of GT&R N.C. Employees FCU. Founded in 1971 as General Tire & Rubber North Carolina FCU, the Charlotte, N.C., credit union has about $20 million in assets and about 2,000 members. The merger will give the smaller credit union access to the 21 branches and three service centers in South Carolina and North Carolina operated by Founders, which claims $1.2 million in assets and almost 150,000 members.
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Banks must plan to support decentralized finance without disturbing their existing businesses. That's easier said than done.
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The Treasury's financial crimes enforcement wing proposed a rule Monday that would incentivize whistleblowers to come forth with information that could assist in cracking down on scams, fraud or money laundering, at a time of heightened geopolitical risk.
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Federal Reserve Chair Jerome Powell said the central bank is cautiously monitoring consumer sentiment as tensions from the Iran war push energy prices higher, complicating efforts to bring inflation down to the Fed's target.
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A near-collapse of the global software vulnerability database exposed critical weaknesses that could leave banks unable to track cyber threats.
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