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MORE BANKS DOWNGRADED

Some of the world's biggest banks were downgraded Thursday by rating agency Moody's, which cited concerns about the stability of the global financial system., .....MORE BANKS DOWNGRADED:

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Sunday Reading - Underwater Kingdoms

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New CEO Named at SF Fire CU

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Crews Shares Vision For NCUA, Refuses To Enter Board Battle

By Ray Birch WASHINGTON—NCUA nominee John Crews used his Senate Banking Committee confirmation hearing Thursday to lay out an agenda centered on reducing regulatory burden for smaller credit unions, encouraging technological innovation and reviving the formation of new credit unions, while declining to weigh in on the legality of the NCUA's current one-member board because of pending litigation. Although much of the hearing was dominated by sharp questioning of fellow nominee Christopher Phelan over the economy, inflation, tax policy and President Trump's agenda, Crews' exchanges with senators offered insights into how he might approach regulating the credit union system if confirmed. The hearing proceeded despite questions on Capitol Hill over whether it would even take place following Wednesday's political turmoil surrounding President Trump's demand that Congress pass the SAVE America Act before he signs bipartisan housing legislation and the Senate's decisio...
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NCUA Board Meeting Coverage: Here’s Where Deregulation Project Stands

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DC Round-Up

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Healthcare Fraud Sweep

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What You Might Not Know About July 4th.

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NCUA Tells FICUs Crypto Trading is OK — If Big Exchanges Provide the Service

When it comes to reading between the lines of financial regulators’ advisory letters, tone matters. Take last week’s letter from the National Credit Union Administration (NCUA) which gave the federally insured credit unions (FICUs) it oversees permission to partner with digital asset providers to allow retail customers to buy, sell and trade in cryptocurrencies. Now compare it to the one issued by Comptroller of the Currency Michael Hsu’s agency to the national banks and federal savings associations it regulates a month earlier. On the surface, both said much the same thing: Financial institutions can provide cryptocurrency services (albeit with some notable differences: the OCC’s letter dealt with more back-end services, including custody services as well as holding and using dollar-pegged stablecoins for transaction settlement). Neither was enthusiastic. The NCUA’s letter said it “does not prohibit FICUs from establishing these relationships” — which is not as enthusiastic as “are a...
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The ‘Vexing’ Challenge in Front of the Fed

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