BALTIMORE - (02/01/05) -- Municipal Employees CU of Baltimoresaid it returned $3.7 million to its members in the form of loaninterest rebates and extraordinary dividends for 2004. Loaninterest rebates were deposited into members share accounts the endof November and the extraordinary dividends were deposited the endof December. The $750 million credit union ranks in the top 3%nationally in 'give-back factor,' a measurement in the credit unionindustry that looks at the interest rate charged on loans, theinterest paid on deposits and the amount returned to members at theend of the year.
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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.
8h ago -
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.
9h ago -
Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
10h ago -
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.
11h ago -
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