The Latest

MADISON, Wis. – Compensation for credit union boards of directors divides many in the CU movement – it was part of an extensive CU Journal Special Report last year and a study from Filene Research Institute earlier this year added to the conversation about this complex issue.

WASHINGTON — Third quarter bank trading revenue fell 5% from last year to $5.3 billion as equity trading underperformed, according to a report issued Monday by the Office of the Comptroller of the Currency.

Veridian Credit Union in Waterloo, Iowa, has obtained certification as a Community Development Financial Institution.

Some mortgage investors are refusing to buy home loans that are at risk of violations of new consumer-disclosure rules. The problem appears to be worst among nonagency jumbo loans purchased by private investors.

The Federal Reserve issued a proposal Monday outlining a framework to implement a countercyclical capital buffer for the largest and most internationally active banks, a key part of Basel III that has until now lacked any details.

First Farmers and Merchants in Columbia, Tenn., promoted Brian Williams to president of both the holding company and First Farmers and Merchants Bank. The $1.2 billion-asset company also named Timothy Pettus vice chairman of the holding company and bank.

In an effort to expand its best-in-class digital banking platform, 1st Advantage Federal Credit Union here added Mobiliti’s mobile banking, Popmoney’s person-to-person payments and remote deposit capture.

GrooveCar Inc. announced that four more credit unions have joined its online auto buying service program.

One in every three card-present transactions globally from July 2014 to June 2015 involved an EMV-chip card, according to EMVCo.

Target Corp. is tight-lipped on the details of its proprietary mobile wallet, but reports of the retailer's plan for a software-based wallet app early next year are adding to the concern that the mobile wallet market is becoming oversaturated with options too early in its lifecycle.