SAN DIMAS, Calif. – WesCorp FCU said yesterday it has agreed to acquire Internet broadcaster CIA Studios from The Rochdale Group, a consulting company headed by former U.S. Central CU President Dan Kampen. WesCorp has been a pioneer in webcasting with its popular Market Update and Breaking News features, as well as its annual Operation Best Wishes, which allows soldiers in Iraq and Afghanistan to communicate with their families every Christmas. WesCorp plans continue webcasting at CIA Studios and to expand the services to include, among other things, video news releases. CIA Studios was part of Counterintelligence Associates, the well-known credit union consultants which was acquired in 2005 by Rochdale, from CommunityAmerica CU.
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Acting CFPB Director Russ Vought has managed to neuter the Consumer Financial Protection Bureau through a series of actions. Senate Banking Committee Chairman Tim Scott, R-S.C., played a major role by cutting funding in half.
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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.
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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.
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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.
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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.
September 17 -
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.
September 17