HARRISBURG, Penn. – Pennsylvania State Employees CU said it will provide cash-strapped members with interest free loans up to $1,000 if the state fails to pass a budget.
The loans are only 0% interest for up to 60 days and 3.9% after that. Members would be able to borrow up to $1,000 per pay period.
The deadline to pass the state budget is July 1.
The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
Mirroring the efforts of a number of larger institutions, Portland-based Northeast Bank plans to open a de novo branch in Bangor and renovate its seven existing branches.
The Brazilian digital bank is bringing its services to U.S. consumers through a partnership with Lead Bank as it awaits its own final charter approval.
Research from Cerulli Associates suggests that many RIAs have a long way to go with AI adoption while already finding possible ramifications for back-office staff.
Regulators want firms to spot where several critical functions ride on one provider, a question the department's earlier vendor guidance did not ask.
The digital asset and card-issuing firms are supplying the guts to enable transactions for cards and digital wallets, betting that Mastercard's ties to both firms will be attractive to banks, consumers and merchants.
