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The NCUA's plan to expand credit unions' business-lending powers generated more than 3,000 comment letters, mostly from bankers urging a 'no' vote. But the agency's board is expected to stick by its original proposal.
February 17
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While little is known about what regulators are weighing as they grade the 12 biggest firms' resolution plans, experts deeply familiar with the process are speculating that liquidity could be a determining factor in whether the plans are deemed credible or sent back to the drawing board.
February 17 -
Web standards developer W3C has launched a Web Authentication effort aimed at replacing the use of passwords for log-ins with more secure authentication methods.
February 17 -
American Express Co. is reorganizing management and consolidating its marketing activities as the biggest credit-card issuer by purchases seeks to cut $1 billion in costs over the next two years.
February 17 -
Credit unions that undergo conservatorship face a variety of destinies. Consider the fate of credit unions that were conserved five years ago. In 2011, according to NCUA, nine credit unions were placed into conservatorship. Of those nine, eight were eventually liquidated (often due to fraud) and one remains in conservatorship almost five years later. Here is a brief review of what became of them.
February 17
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Accenture has created a blockchain practice within its financial services group and partnered with Digital Asset Holdings to help companies assess and implement blockchain solutions.
February 17 -
North Island Financial Credit Union was on the verge of conservatorship but managed to avoid that fate and come back out swinging.
February 17 -
When regulators step in to take control of a troubled CU, what promising signs do they look for to determine whether there will be life after conservatorship, and what happens next?
February 17
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Regions Financial in Birmingham, Ala., has been restricted from acquiring other banks or opening new branches after it received a Community Reinvestment Act downgrade.
February 17 -
Sanford "Sandy" Weill, the former head of Citigroup, has stepped down as chairman of Hamilton Insurance Group in Bermuda.
February 17
