When Texas credit unions host their annual Credit Union Texas Twister run in Austin, Texas on Oct. 30, members of the military deployed here will stage a sister run. At the Army's Task Force Eagle base in Bagram, Afghanistan, Tim Villasana of the National Guard's 111th Area Support Group from Austin and Task Force Eagle, is arranging the run. "This gives us something to get our minds off what is going on over there," he said. In addition to Task Force Eagle members, members of the Navy, Air Force, Marines and other coalition forces such as Korea, Poland, France and Slovakia will participate. The second annual Credit Union Texas Twister, which raised $50,000 in funds for the Children's Miracle Network in 2004, will also forward some proceeds to hurricane relief.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
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The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
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A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
July 2