LONDON–Fintechs aren’t just gaining a foothold in the U.S.; they are gaining share in Europe, too, as more consumers get comfortable with using online-only financial institutions.
CU News From Around the Planet
CROSS ROADS, Texas–A group of employees and members from LiFE FCU organized a trip to the Dominican Republic where over five days they helped provide clean drinking water for three villages.
INDIANAPOLIS— The president and CEO of Financial Center First Credit Union here, J. Kevin Ryan, and its director of Community Relations, Marco Dominguez, traveled to Colombia to share their credit union’s strategies for helping people improve their lives through financial education.
MADISON, Wis.–The World Council of Credit Unions (WOCCU) has filed a comment letter with the Financial Stability Board noting that while it does not support a regulatory requirement for credit unions to obtain “Legal Entity Identifiers,” it does see some potential value in FASB’s encouragement of the increased use of the identification system.
EDINBORO, Scotland–The Scottish government plans to increase its support for credit unions in the country.
LONDON—A new report shows that in at least one country, people are turning more to their savings than credit cards for purchases.
SEOUL, South Korea—At an annual international conference of regulators here, the South Korean Financial Supervisory Service urged regulators from 14 other countries to create an international discipline system for cryptocurrency and initial coin offerings.
WARSAW, Poland–Representatives of the Defense Credit Union Council (DCUC) me there with Poland’s National Association of Co-operative Savings and Credit Unions as part of a meeting sponsored by the World Council of Credit Unions (WOCCU).
LEICESTER, England–Clockwise Credit Union here along with Transave Credit Union have received the 5-star Fairbanking Mark for their loan products.
NEW DELHI, India—Apple has halted plans to bring digital payments to India, thanks in part to regulatory hurdles and challenges in creating a service that works with the UPI platform in the country.