PSCU Financial Services has entered into a strategic alliance with Ongoing Operations LLC, and made an equity investment of $250,000 in the disaster recovery CUSO. Under the deal, PSCU Financial will market the Maryland-based CUSO's business continuity services to its 500 credit union member/owners and Ongoing Operations will market PSCU Financial's CUAlways 24/7 call center solution as part of the disaster recovery services. In addition, PSCU Financial agreed to invest $250,000 into the CUSO. Ongoing Operations is owned by seven mid-Atlantic state credit unions.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
7h ago -
The New York-based bank says it will push its concentration of commercial real estate loans below 400% of risk-based capital over the next two years and focus more on C&I.
9h ago -
The San Francisco-based firm's Anchorage Digital Trusted Liquidity and Settlement network, better known as Atlas, will allow clients to settle a range of cryptocurrency transactions.
11h ago -
Consumer spending slowed and charge-offs rose during the first quarter, but Bread Financial said a pending late-fee rule may not be as devastating to its revenue as the Columbus, Ohio-based firm initially feared.
April 25 -
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
April 25 -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
April 25