COLOMBO, Sri Lanka - (01/04/05) -- As many as 100 community creditunions and at least one district credit union have been destroyedin this tiny island country by the massive tsunami that struck itlast week, according to the World Council of CUs. WOCCU, which isworking with the Sri Lanka CU Federation to assess the damage tocredit unions and their members, reported that credit union staffare among those killed by the waves that swept coastal regions ofthe country. WOCCU has dispatched Normunds Mizis, who was WOCCU'sproject director in Sri Lanka from 1998-2002, to the country tofurther identify damage and provide assistance. WOCCU also said itis working with the Indonesia CU Federation to assess damagesthere, where thousands have perished and billions of dollars inproperty damage were caused by the mammoth tidal waves. In SriLanka, the credit union foundation is working to distribute food,blankets and clothing. To help victims, WOCCU has established adisaster relief fund. Contributions can be sent to WorldwideFoundation for Credit Unions, Inc., 5710 Mineral Point Road, P.O.Box 2982, Madison, WI 53701-2982.
- AB - Policy & Regulation
The D.C. Circuit Court of Appeals halted the Trump administration's attempt to fire nearly two-thirds of the Consumer Financial Protection Bureau's workforce, upholding a March 2025 injunction.
June 21 -
JPMorganChase wants to expand its digital bank offerings to three more European countries, according to a new Financial Times report; M&T Bank Corp. elects Jerry Jacobs Jr. to the board of directors of both its parent and banking subsidiary; Citizens Financial Group names Chris Emerson as head of investor relations; and more in this week's banking news roundup.
June 19 -
Banks that don't embrace embedded payments now risk losing out to more nimble rivals in the near future.
June 19 -
Anthropic's head of banking told New York Banking Summit attendees that the future is agents that operate autonomously alongside employees.
June 19 -
Chair Travis Hill said SVB showed banks can't always sell securities fast enough to cover deposit outflows, but acknowledged the "stigma problem" with discount window borrowing remains unsolved.
June 18 -
At a conference in New York, Joseph Otting reflected on the difficult hiring decisions he made early in his tenure heading Flagstar Bank, which just two years ago was on the verge of collapse.
June 18









