BURBANK, Calif. Logix FCU, formerly Lockheed Employees FCU, on Tuesday said it is paying its members a $5.5 million loyalty dividend.
Depending on their balances with the credit union, members are eligible for a dividend payment up to $200.
This is the latest of several extraordinary dividends the $3 billion credit union has paid to its members. Logix said it has reported positive income in every one of its 76 years of existence.
The Department of Justice wants Federal Reserve Chair Jerome Powell to state if the central bank is profitable again and can, therefore, fund the Consumer Financial Protection Bureau.
The Financial Services Forum, which represents the largest U.S. banks, formed a new 501(c)(4) advocacy group to amplify big banks' policy preferences, a move that could counter the crypto industry's growing political influence.
New research from American Banker explores how bankers predict stablecoins, subprime credit, cyber security and other factors will shape the industry at large.
Federal Reserve Gov. Christopher Waller said monetary policy must remain insulated from political pressure, arguing that communication with the White House should be limited. Waller is slated to meet with President Trump Wednesday afternoon.
Bank groups, crypto firms and regulators are divided over whether fiduciary digital-asset custody fits naturally within the national trust charter model — or whether, as critics argue, the agency is quietly reinventing the charter.
In a Senate Banking subcommittee hearing, lawmakers discussed a bill that would guarantee all legal industries and all individuals fair access to banking services.
