A dozen Pennsylvania credit unions have formed a consortium with the Pennsylvania Credit Union Association to create a real estate brokerage service. CU Realty provides a Web-based Multiple Listing Service (MLS) search tool. Members will receive a rebate for using a CU Realty Pennsylvania-certified Realtor, according to the PCUA. Participating CUs include American Heritage FCU, Philadelphia; Diamond Credit Union, Pottstown; Franklin Mint FCU, Broomall; Freedom Credit Union, Philadelphia; K of C FCU, Philadelphia; People First FCU, Allentown; Philadelphia FCU; Reliance FCU, King of Prussia; SB1 FCU, Philadelphia; SE Family FCU, Philadelphia; Service 1st FCU, Danville; and Sun East FCU, Aston. The CUSO will obtain brokerage licenses for Pennsylvania, New Jersey, and Delaware.
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Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
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The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
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Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
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St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
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The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
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State regulator says blockchain tools are key to detecting money laundering and sanctions violations.
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