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David Saul, State Street's chief scientist, has completed a proof of concept for the Financial Industry Business Ontology, a standard way of expressing contract terms electronically. To him, it's a prerequisite for blockchain technology and smart contracts.

Lobbyists for the credit union industry are decrying a proposal to limit forced arbitration clauses despite ample evidence that credit unions don’t use such clauses in the first place.

Enrichment FCU announces top-level promotions and more credit union professionals in the news.

The Deep Target announced several new contracts with credit unions across the nation.

CU Companies in New Brighton, Minn., added four retail lending partners and one correspondent lending partner to its mortgage department in June.

Citibank is offering surcharge-free ATM access to the customers of 16 credit unions and minority-owned banks in six cities.

Lobbyists for the credit union industry are decrying a proposal to limit forced arbitration clauses despite ample evidence that credit unions don’t use such clauses in the first place.

That’s the message that two funds have for directors of Commonwealth Business Bank in Los Angeles.

Loans tied to franchises were often an area of concern for banks before the financial crisis. Industry growth, improved credit metrics and a need to diversify commercial loan portfolios are prompting several banks to take a second look at the business.

Under the hood, the new Masterpass ties directly to banks' own digital wallets with support for Near Field Communication-based mobile payments via Android devices and the ability to centralize features for supported cards, including balance display and purchase alerts, and support for paying with loyalty points.