HONG KONG—The first batch of virtual banking licenses here have been granted to three financial organizations by the Hong Kong Monetary Authority (HKMA).
CU News From Around the Planet
MISSISSAUGA, Ontario- Samsung Electronics Canada has announced a new partnership with the Canadian Credit Union Association (CCUA) on a payments solution for its 240 member CUs.
BASEL, Switzerland—The World Council said it led an effort to persuade the Basel Committee on Banking Supervision to endorse proportionality, which allows national and regional financial regulators to prescribe compliance standards for credit unions that are less burdensome than those required by Basel III and other international financial regulatory standards.
NEW PLYMOUTH, N.Z.–Members of four out of five credit unions here that are part of a proposed merger have voted in favor of the combination.
TOKYO—The Japanese government has made amendments to two Acts, the Financial Instruments and Exchange Act and the Fund Settlement Act, in order to accommodate virtual currencies.
DUBLIN, Ireland—The impact of the European Union’s General Data Protection Regulation (GDPR) is being felt in Ireland, according to a new report.
SAN JUAN, P.R.–A Puerto Rico credit union, Cooperativa de Ahorro y Credito Vegabajeña, has filed suit against the island’s Employees Retirement System (ERS) to enforce its statutory liens over 37 claims it has against the entity resulting from defaulted loans given to employees.
LONDON—Seventy-three percent of U.K. consumers don’t know what a cryptocurrency is or are unable to define it, according to a new survey from the country’s financial watchdog, the Financial Conduct Authority (FCA).
MEXICO CITY, Mexico—The Mexican central bank and Amazon are in talks to introduce a government-approved mobile payment system, a new report reveals.
KILWINNING, Scotland–A new credit union at Kilwinning Academy here is being called Scotland’s first.