PORTLAND, Ore. - (11/30/04) -- Credit card portfolios for creditunions rose in the third quarter to 18, from 15 for the same periodlast year, with the dollar figure rising by 26% to $359 million,according to AssetExchange, a consulting firm that tracks and helpsarrange portfolio sales. Through the first three quarters of theyear there were 47 portfolio sales by credit unions, up from 41 forthe first nine months in 2003.
BNY, Huntington Bank, U.S. Bank, American Express, Visa, Mastercard, Stripe, and Coinbase are just a few of the companies that have signed on to use the dollar-backed stablecoin issued by technology firm Open Standard.
Securities and Exchange Commission Chair Paul Atkins said tokenized bank deposits are likely to be a reality in 2027, and added that he is working with banking agencies on digital assets and capital requirements.
After two different community bank M&A deals, Flagstar Bank consolidated its data centers from six facilities to two as part of its tech integration strategy.
The bank deepened its relationship with Circle Internet Group, letting institutions store, transfer, mint and burn USDC.
As a subsidiary of Bank of America, Merrill uses a BofA software program to monitor and report suspicious activity. For years, the Securities and Exchange Commission says, that program fell short.
The Federal Deposit Insurance Corp. says executives "gambled" with depositor funds, while the former parent company argues regulators are using hindsight to second-guess what were reasonable business decisions at the time.
