CHARLESTON, S.C. - (09/10/04) -- South Carolina FCU said it hit the$1 billion mark in assets, making 91 credit unions in thebillion-dollar club. The 68-year-old credit union, chartered asCharleston Navy Shipyard FCU, has almost doubled its assets andincreased its branch network to 16 over the past five years. Thegrowth has been fueled over the past year by the credit union'sconversion from a multiple group charter to a communitybase.
BNY, Huntington Bank, U.S. Bank, American Express, Visa, Mastercard, Stripe, and Coinbase are just a few of the companies that have signed on to use the dollar-backed stablecoin issued by technology firm Open Standard.
Securities and Exchange Commission Chair Paul Atkins said tokenized bank deposits are likely to be a reality in 2027, and added that he is working with banking agencies on digital assets and capital requirements.
After two different community bank M&A deals, Flagstar Bank consolidated its data centers from six facilities to two as part of its tech integration strategy.
The bank deepened its relationship with Circle Internet Group, letting institutions store, transfer, mint and burn USDC.
As a subsidiary of Bank of America, Merrill uses a BofA software program to monitor and report suspicious activity. For years, the Securities and Exchange Commission says, that program fell short.
The Federal Deposit Insurance Corp. says executives "gambled" with depositor funds, while the former parent company argues regulators are using hindsight to second-guess what were reasonable business decisions at the time.
