MAHNOMEN, Minn. - (05/18/05) -- White Earth Reservation CU said ithas contracted with FastFunds Financial Corp. To help it providefinancial services to Shooting Star Casino, Hotel and Event Center.The contract calls for the credit union to complement FastFunds'ChexGuard electronic check conversion system and CreditGuard creditcard advance system. ChexGuard electronically converts customerchecks into an electronic transaction using VISA banking rail toverify the account is open and there are sufficient funds in theaccount. CreditGuard is a proprietary credit and debit card cashadvance system that allows casinos and retail customers to havefunds electronically transferred into their account. FastFundsoperates through its wholly owned subsidiary Chex Services,Inc.
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The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.
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A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.
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The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.
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The efforts, which respond to President Biden's October executive order on AI, aim to improve synthetic content detection and improve the trustworthiness of AI models.
May 3 -
Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.
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In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.
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