The Minnesota Credit Union Network has named as its Outstanding Credit Union Volunteer of the Year Ron Nevala of Anoka Hennepin CU, six-year chairman and board member since 1996. Nevala was recognized for playing "an instrumental leadership role in the dramatic and continued growth of his credit union, and is dedicated to supporting credit unions on the local, state and national levels." The Outstanding Credit Union Professional of the Year Award went to Steve Ahlness of Greater Minnesota Credit Union. "Under 27 years of his leadership, GMCU now has five branch offices and assets have grown to exceed $138 million dollars," said the MCUN, also pointing to Ahlness' ongoing participation in governmental affairs at the state and federal levels.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
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The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
July 2 -
A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
July 2