Regional and community banks will offer low-cost or no-cost financial products through Bank On, which has already reached agreements with Regions Bank, Wells Fargo and SunTrust.
Notre Dame Federal Credit Union in Notre Dame, Ind., said late last week that it raised $12 million from a new fund created to provide secondary capital to credit unions, angering bankers who see it as a disturbing trend.
U.S. Reps. Gwen Moore and Paul Cook introduced a bill this week would allow more credit unions to expand their fields of membership to underserved communities.
The long-running slide in mortgage payments 60 or more days past due will continue next year, and perhaps even longer as borrowers benefit from favorable economic conditions.
Acting director Mulvaney has major concerns about cybersecurity at the agency; the commission says a Canadian company's initial coin offering is a 'scam.'
Jefferson Financial in Louisiana struck a deal to bring in $12 million in secondary capital, which is believed to be the biggest haul to date for a credit union. It could also embolden other credit unions to pursue similar fundraising efforts.
