Report: Visa, Mastercard to increase fees
Visa and Mastercard reportedly plan to increase the fees businesses pay every time a customer uses a credit card. [Continue]
Michigan CU announces second Illinois bank buy in week
East Lansing, Mich.-based Michigan State University Federal Credit Union is acquiring its second Chicagoland bank in less than a week. [Continue]
Proposal would require regional banks to issue more debt
Federal regulators plan to require regional banks to issue more long-term debt as part of their living wills. Reaction to the bill was mixed among industry trade groups. [Continue]
Bank First selling stake of fintech company
Manitowoc, Wis.-based Bank First is selling its minority stake in bank technology provider UFS, LLC, to an undisclosed buyer. [Continue]
Michigan credit union to acquire Chicagoland bank
East Lansing-based Michigan State University Federal Credit Union is growing its presence in the Chicago region by acquiring northeast Illinois-based McHenry Savings Bank. [Continue]
St. Louis Fed launches search for next leader
The Federal Reserve Bank of St. Louis has formally launched a search to hire its next president and CEO. [Continue]
ChoiceOne Bank opens wealth management office
Michigan’s ChoiceOne Bank recently opened a wealth management office in its headquarters city of Sparta.
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Treasury proposes crackdown on crypto tax evasion
The Treasury Department unveiled a proposal last week which is intended to crack down on tax evasion in the crypto sector. [Continue]
Powell: Fed open to additional rate hikes
The Federal Reserve is prepared for additional interest rate hikes and will maintain a restrictive economic policy until inflation falls to its long-term target of 2 percent, Chair Jerome Powell said during the Jackson Hole Economic Symposium. [Continue]
KC Fed manufacturing expectations rise
Tenth District manufacturing was unchanged this month as expectations for future activity slightly increased, according to August’s KC Fed report. [Continue]