New Mexico Educators FCU said it has launched a new 'Community Rewards' card that allows members to help determine how the credit union distributes gift-giving, while also rewarding the member. Members will earn a one-quarter of 1% cash reward for their signature-based purchases and at the end of a year, the credit union will match their reward by a quarter of 1% to the community and charitable cause they chose when they enrolled. Members are able to choose a community and a charitable category where the credit union may contribute the funds. Credit union officials estimate they will raise as much as $500,000 during the first year.
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Gary Farro's testimony focused on both the banking activity of Michael Cohen, a former Trump attorney who paid $130,000 to an adult film actress in 2016, and First Republic Bank's due diligence work.
7h ago -
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.
May 3 -
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.
May 3 -
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.
May 3 -
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.
May 3