BOSTON–A primary focus of credit unions offering business services has been lending. But one expert believes credit unions are drastically underestimating other related opportunities in business services, including becoming a key driver for attracting SEGs and new members. Moreover, says Bert Bryan, president of CU Business Capital, LLC, Miramar, Fla., a CUSO that was originally chartered by Eastern Financial Florida Credit Union, a comprehensive business services program can also play a significant role in increasing fee income and providing low-cost deposits to the credit union. Bryan, who calls business services and "irreversible trend" for credit unions, will share strategies for leveraging the potential of business services during the Credit Union Journal's Business Development & SEG Conference in Boston, April 12-13 at the Hyatt Regency. The meeting focuses on strategies for growing membership, and also kicks off on April 11 with a very special "Night at the Museum," in which those who register for the event will travel to America's Credit Union Museum in Manchester, N.H., for a night of history and camaraderie, followed by dinner inside the building that housed America's first credit union. Note: Attendance is capped at 85 for the Museum event.
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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