FRESNO, Calif. Fresno Police Department CU has become the first credit union this year to convert to private deposit insurance, provided by Ohio’s ASI Inc.
The $47-million credit union reported a $475,000 loss and net worth of 18% for 2012, after a $710,000 net for 2011.
Fresno Police is the first conversion to private insurance since last April’s switch of $62-million Commonwealth CU in Bourbonnais, Ill.
Federal Reserve Gov. Christopher Waller said Tuesday that central bank researchers using Artificial Intelligence must follow security protocols designed to protect sensitive data.
The move comes about a year after rising delinquency levels prompted SBA to raise lender fees and tightened underwriting standards in its flagship 7(a) program.
Select ChatGPT users can now connect their bank accounts to the AI-powered chatbot for personal money management advice based on their financial history.
Suncoast Credit Union moved from one-time identity checks to monitoring members for the life of the account. It says fraud losses fell more than a third.
The $110 million settlement, which was mapped out last fall, requires Wells Fargo to establish a $100 million fund to provide downpayment and closing-cost assistance to eligible borrowers who live in or plan to buy a home in certain low- and moderate-income census tracts.
Whether red or blue, leaders share an affinity for battling fintech giants, as the liberal mayor is pressuring regulators to scuttle Western Union's plan to buy digital transfer Intermex, shortly following PayPal's 'DEI settlement' with the Trump administration.
