Bank of America will make $10 million available for deposits in community development credit unions across the country, according to the National Federation of Community Development Credit Unions.
Deposits of capital will help community development credit unions make loans across country.
A new person-to-person payment service launched by three major banks poses more of a long-term challenge than short-term threat to credit unions, an analyst said.
clearXchange billed as the first bank-owned P2P; credit union impact seen more in long term.
Charlotte, N.C.-based IT staffer uses malware to drain machines without record, earns 27 months in prison.
Some members of credit unions that sold their card portfolios to banks in agent-issuing agreements will face another round of fees in May as Bank of America has announced it will impose a $59.00 additional fee on some accounts.