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Is Bitcoin Money? Florida Judge to Decide
The question of whether bitcoin is actually money is at the heart of a case of a man charged with selling $30,000 worth of the virtual currency to an undercover police officer.   more »
LINO LAKES, Minn. – Core processing provider Sharetec System here announced Thursday that WSSC FCU in Laurel, Md., has selected the company to provide its new core system. more »
WASHINGTON -- Fannie Mae has delayed the roll out of its new automated underwriting system that will require mortgage lenders to use trended data for the first time in submitting their loans for approval. more »
ST. LOUIS — Vantage Credit Union has completed its conversion to the Episys core operating system from Symitar. The $801 million-asset CU said it completed the conversion in May. more »
Financial innovation, including distributed ledger technology and marketplace lending, has emerged as a new source of risk to the U.S. financial system, according to a report issued Tuesday by the Financial Stability Oversight Council. more »
While iris and fingerprint biometric security technologies have proven to be effective, Gesa Credit Union is quite literally asking members for a hand to help improve security even more with its palm-vein biometric reader pilot program. more »
FARMINGTON HILLS, Mich. – Member Driven Technologies (MDT) announced six credit unions have signed agreements to convert their core processing systems to the Symitar Episys system under the auspices of MDT. more »
Visa's Digital Commerce App is allowing financial institutions to develop their own mobile wallets. Many of its clients are credit unions and larger community banks which may not otherwise have the resources to develop such a product internally. more »
Regulators know that not bringing "innovation fintechs into the banking system could lead to instability overall," says consultant Jo Ann Barefoot. Attorney Cliff Stanford says the OCC's white paper has "stimulated" discussion about a fintech charter. "The ideas are going to bubble up."
Fintech companies are asking a federal regulator to create a specialized charter that would allow them to comply with federal rules instead of facing a state-by-state licensing framework. more »
Most credit union industry insiders and experts agree that technology has shaped branching strategy in recent years as many locations have become smaller, with fewer teller lines and more space for consultation. more »
Mobile wallet providers and retailers have been hunting for the magic formula to seamlessly blend loyalty and mobile payments, in the hopes that one would inevitably fuel the other. But it's a delicate recipe, and easy to get wrong. more »
Federal regulators issued a statement Tuesday reminding credit unions and banks how they can protect themselves from cyberattacks. more »
Taking a page from the age-old adage of "if you can't beat 'em, join 'em," credit unions are ramping up efforts to partner with fintech companies. more »
Getting Down to Business
The National CU Foundation has released a new video about the Biz Kid$ program’s impact on youth financial literacy efforts.