HUNTSVILLE, Ala. - (10/14/04) -- Redstone FCU has joined two othercommunity groups to match a $88,940 federal grant that will helpthe Family Services Center Assets for Independence Program. The$177,000 in funding will help fund the organization's first timehomebuyer program for low income residents. The program willprovide counseling, training and financial assistance to low incomefamilies to help them buy homes. The community groups joiningRedstone FCU in matching the grant form the U.S. Department ofHealth and Human Services are Huntsville Community Development andDecatur Community Development.
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Senate Banking Committee Republicans, led by committee chair Tim Scott, R-S.C., introduced a bill that would raise the mandatory reporting threshold for certain currency transactions, a move meant to ease banks' anti-money laundering compliance obligations.
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Senate Banking Committee ranking member Elizabeth Warren, D-Mass., is urging the Federal Deposit Insurance Corp. not to approve new Industrial Loan Company charters until Congress passes a law subjecting ILCs to bank holding company rules.
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Banks and credit unions are steering away from stablecoins chiefly due to lack of customer demand, per new American Banker research.
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The two companies are collaborating on making the digital asset private for payroll and other business transactions. While it's unusual, as the most well-known stablecoins are on public ledgers, tech firms are warming to the idea.
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Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
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The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.
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