NCUA Chairman Dennis Dollar has appointed NCUA Vice-Chair JoAnn Johnson to serve as the agency's designated representative on the Financial Literacy and Education Commission, a commission created by a newly enacted federal law which is designed to coordinate efforts among twenty federal departments with responsibilities to promote and implement financial literacy programs. "Financial literacy is a keystone component to the success of NCUA's Access Across America initiative," said Chairman Dollar in announcing the appointment. "This new commission will enable NCUA to coordinate with our fellow agencies in a systematic way to prioritize financial literacy wherever possible."
-
Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
26m ago -
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
4h ago -
Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
4h ago -
St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
5h ago -
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
5h ago -
State regulator says blockchain tools are key to detecting money laundering and sanctions violations.
6h ago