SAN DIEGO – San Diego County CU said yesterday it has signed with Firethorn to begin offering the company’s mobile banking application in early 2009.
The application will let members of the $4.2 billion credit union check their balances, view transaction details, transfer funds, view and pay bills, track rewards points and receive offers.
Firethorn is a unit of Qualcomm.
The latest in a new breed of bank competitors is Zaria, a servicer of traditional and digital asset-backed loans for institutions, which has requested a national trust bank charter from the OCC.
A new Federal Reserve Bank of Boston report shows bank lending to private credit has grown over the past decade, though insight into the opaque lending market is limited.
Congress has little time to move on the CLARITY Act before it breaks for recess. But even that bill won't ensure the future for stablecoins.
Neither company would say how many patents the deal covers, whether either paid the other, or whether USAA pressed its claims first.
Bond yields rose after Federal Reserve Chair Kevin Warsh's second press conference last week, and bankers may have to accept higher rates as the price of a more parsimonious Fed.
Banco Santander's pending acquisition of Webster Financial got approval from the Federal Reserve Board about five months after the deal was first announced.
