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Department of Treasury, Washington, D.C. (Source: AdobeStock)The Treasury Department said Tuesday that it is seeking public comment on opportunities and risks presented by developments and adoption of digital assets.
The request for comment is part of Section 5 of President Joe Biden’s Executive Order 14067, “Ensuring Responsible Development of Digital Assets,” which directs Treasury, in consultation with the Labor secretary and other relevant agencies, to report to the president on the “implications of development and adoption of digital assets and changes in financial market and payment infrastructures” for United States consumers, investors and businesses.
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The CFPB is ordering Navy Federal to refund more than $80 million to consumers, stop charging illegal overdraft fees, and pay a $15 million civil penalty.
The list includes six credit unions merging due to poor financial condition and two for poor management.
Astera CU will consolidate with Adventure CU on Jan. 1, and recently merged Hawaii credit unions expect system conversions to be completed next year.
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