MARIETTA, Ga. - (04/13/06) -- CMAR CU said it has agreed to sellit credit card portfolio to Elan Financial Services, a unit of U.S.Bancorp. Under the deal, Elan will manage the portfolio, with 1,300ccounts and $3.5 million in receivables, under the $56 millioncredit union's brand. Eland has acquired more than 50 credit unionportfolios over the past two years.
Federal Reserve Chair Jerome Powell said there was a "high degree of unity" among committee members during this week's Federal Open Market Committee vote. Out of 12 FOMC members, 11 voted for a 25 basis point cut.
The Federal Open Market Committee's decision to reduce interest rates for the first time in nine months lifted bank stocks Wednesday. The 25-basis-point reduction could lead to net interest income headwinds now, but loan growth later, analysts said.
Community Financial in Syracuse has made its biggest investment ever in an outside company, taking a $37.4 million equity stake in an insurance provider that focuses on the rental housing market.
St. Cloud Financial Credit Union will be issuing its own stablecoin at the end of this year, becoming one of the first U.S. credit unions to do so.
The two BNPL giants' pay-over-time loans will now be available for in-store purchases on Apple Pay in a move to capture more sales at brick and mortar stores.
State regulator says blockchain tools are key to detecting money laundering and sanctions violations.
