FITCHBURG, Ma.. – In an effort to boost lagging savings growth, IC FCU boosted the introductory rates on its new savings and checking accounts to regional highs of 6% and 5%, respectively. The credit union hopes to attract as much as $10 million in new deposits under its IC Direct program. The high rates are available through Sept. 1, when the rates return to the 5% for regular savings and 2% for checking accounts.
Federal Reserve Gov. Lisa Cook said Thursday that private credit does not seem to pose additional risks to the financial system at the moment, but added that more information about the opaque market is needed.
FiCare asked a judge to stop Fiserv from using automated checks to lift fraud holds. Fiserv says the credit union could have turned on one-time passcodes.
The federal agency's proposed definitions characterize event contracts as swaps, but exclude "casino-style" gambling.
Advisory practice sellers frequently wish they had taken more time for important strategic tasks before the deal, David Grau of Succession Resource Group says. He provided a list explaining why the timeline will take longer than many sellers may think.
Federal Reserve Vice Chair for Supervision Michelle Bowman said banks are making use of expanded balance sheet capacity to increase their Treasury holdings.
OUSD, the new stablecoin from Open Standard, a consortium of more than 140 banks, fintechs, payments companies and crypto firms, has drawn interest, in part due to its shared economics model.
