FEDERAL WAY, Wash. - (06/28/05) Washington's credit unions have nowraised more than a half-million dollars in contributions toward acooperative advertising campaign in this state. The Washingtonleague reported that 19 credit unions have made contributions tothe campaign, which is being spearheaded by Washington StateEmployees Credit Union and the league. Reaching thissignificant milestone allows us to continue our promotion of sharedbranching. It also expands our campaign to include the credit uniondifference and how to join a credit union, said WCUL CEOJohn Annaloro. The campaign is to include TV advertisingwith both the ABC and CBS Seattle affiliates, including spotsduring Super Bowl XL and during the Children's Miracle NetworkTelethon.
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As the CFPB reconsiders its open banking rule, banks and fintechs are locked in a bitter battle over who will pay for the new digital infrastructure.
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Hope Bancorp's acquisition of a business that serves Japanese companies should complement its historic focus on Korean business owners.
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The Department of Justice is seeking court approval to immediately fire more than 600 employees, slashing the CFPB's workforce by 53%.
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Australia's national Payments Systems Board has decided to remove surcharges on prepaid, debit and credit cards for electronic funds transfers, while lowering the cap on interchange fees. Also, Wells Fargo is seeking banks for its international payment network, and more in American Banker's global payments and fintech roundup.
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The exit highlights the steep challenges and high customer acquisition costs foreign fintechs face when entering the U.S. banking sector.
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Federal Reserve Gov. Michael Barr said Wednesday that his dissents over the past year on proposed regulatory changes reflect concern that oversight of banks could be significantly weakened.
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