credit unions

Credit Unions, Community Banks Can Pool Resources to Fight Money Laundering

Federal regulators ruled Wednesday (October 3) that credit unions and community banks can pool resources for anti-money laundering compliance so that they can protect against financial crimes and at the same time keep their costs down. The Wall Street Journal, citing a statement from the Federal Reserve, the Federal Deposit Insurance Corp.

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PODCAST: Credit Unions Technology Roundtable

What’s the best defense credit unions have against disruption? Collaboration, according to John Best, CEO of Best Innovation Group. That’s important to remember as credit unions face increasing disruption from fintech companies, a new fintech bank charter, and other developments, adds Glen Sarvady, managing principal of 154 Advisors.

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Zelle No! Credit Unions Balk at Joining Bank-run P2P Network

Some credit unions won’t join the bank-operated Zelle P2P network – even as their members demand the service. Zelle doesn’t require a bank or credit union to participate in its network to allow it to receive funds; so even Zelle holdouts will see some activity on their accounts.

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For UN Workers, a Credit Union Crosses Borders

Credit unions (CUs), by default, are cooperative in nature. Many are tapping into their cooperative natures to pursue innovations, so as to compete aggressively and keep up with larger financial institutions (FIs) and FinTech challengers.

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Credit Unions Split on Potential Threat Posed by OCC’s Fintech Charter

With the Office of the Comptroller of the Currency having approved a national bank charter for fintechs this summer, a host of insiders have weighed in on potential pros and cons, and how OCC’s move might ultimately impact credit unions.

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