LONDON–How much extra does it cost someone annually if they are unbanked in the U.K.? According to new research, it costs the unbanked as much as £485 ($629) extra each year.
CU News From Around the Planet
SEOUL, South Korea–Under pressure to adopt an open banking system, South Korea's financial industry said it plans to move forward with a general-use digital financial transaction protocol this year so fintech companies can share financial data and build innovative business models.
INDIANAPOLIS—The Indiana Credit Union League and the trade group representing Dominica’s credit unions have signed an agreement they say is designed to foster innovation.
WASHINGTON—Count Christine Lagarde as among those who believe cryptocurrencies are disrupting the banking systems.
WASHINGTON—Remittances to low- and middle-income countries reached a record high in 2018, according to the World Bank’s latest Migration and Development Brief.
MADISON, Wis.—A delegation of U.S. credit union and trade group executives has wrapped up its week-long tour of Australia
MADISON, Wis.—In follow-up to a meeting between the Basel Committee on Banking Supervision and representatives of the World Council of Credit Unions, WOCCU has written to the Committee seeking further guidance on “when less-complex regulatory approaches can be warranted for credit unions.”
MELBOURNE/SYDNEY, Australia.–A delegation of U.S. credit union and association executives visited Australia as part of a trip organized by the World Council of Credit Unions.
PERTH, Australia–Australia is seeing several large mergers among mutual banks and credit unions.