In Other News

New Report Explores the Impact of Credit Card Line Decreases on Consumers

June 29, 2022 — When credit risk is on the rise, such as during an economic downturn, credit card companies may look at reducing consumers’ available credit limits to prevent...

Bitcoin Drops to Nearly $19K as Fed Renews Inflation Warnings

Jun 30, 2022 — Central bank leaders warned Wednesday that inflation is going to last longer than some estimated. Bitcoin fell toward $19,000 during Asian afternoon hours after central bankers...

Bank Policy Institute Offers Feedback on SEC’s Climate Disclosure Policy

Courtesy of Dave Kovaleski, Financial Regulation News June 20, 2022 — The Bank Policy Institute (BPI) offered feedback on the Securities and Exchange Commission’s (SEC) proposed climate disclosure policy, expressing...

Cornerstone League and Heartland Credit Union Association to Explore Merger

Jun 23, 2022 — Cornerstone and HCUA merger committees have begun the due diligence process. The Cornerstone League and Heartland Credit Union Association are exploring the possibility of a merger....

CFPB & FDIC BoD on the Amended Deposit Insurance Fund Restoration Plan and Revised Deposit Insurance Assessment Rates

One of the FDIC’s most important responsibilities is to prudently manage the Deposit Insurance Fund. The FDIC’s ability to credibly guarantee our nation’s insured deposits is vital for the stability...

Would You Accept an NFT as Loan Collateral? Some Lenders Already Have.

Can non-fungible tokens (NFTs) disrupt the lending market? And should credit unions, which are showing heightened interest in cryptocurrency, be entering this space as well? Article courtesy of Ray Birch,...

Top 21 Emerging Cyber Threats and How They Work

June 7, 2022 — Cyber attacks, hacking, and data breaches are a growing threat. Yet, many companies could have prevented these threats with a bit of risk management and a...

FinCEN Issues Advisory on Elder Financial Exploitation

Urges Financial Institutions to Aid in Combatting Growing Threat June 15, 2022 — The Financial Crimes Enforcement Network (FinCEN) is issuing an advisory to alert financial institutions to the rising trend...

105 Countries Are Exploring Central Bank Digital Currencies, CBDC Tracker Shows

There are now 105 countries that are exploring central bank digital currencies (CBDCs). Among them, 50 countries are in an advanced phase of digital currency exploration (development, pilot, or launch)....

Senator Presses Treasury Secretary on Collection, Sale of Financial Data

Senate Banking, Housing, and Urban Affairs Committee Chairman Sherrod Brown (D-OH) has written to Treasury Secretary Janet Yellen, who oversees the Financial Stability Oversight Council (FSOC), to express concern with the...

Senate Confirms Harper to Full Term on the NCUA Board

June 8, 2022 – The U.S. Senate voted to confirm Todd M. Harper’s reappointment to the National Credit Union Administration (NCUA) Board until April 10, 2027. The U.S. Senate voted...

Marijuana & Bitcoin: Father and Son Caught Running $13M Empire from Starbucks

A father and son in Washington have been sentenced to five years in prison for running an illegal $13 million marijuana business alongside a lucrative Bitcoin-for-cash money laundering scheme. The...