Canadian bank CIBC names new U.S. head amid CEO transition
The Toronto-based bank has promoted Kevin Li to take over as head of its American operations. He will succeed Shawn Beber, who is retiring.
Fed bans former First Horizon bank teller for embezzlement
The bank teller, Khalila Cooper, embezzled $34,000 over a six-month period. She has been banned from the banking industry for her “personal dishonesty,” the Fed said.
Do Kwon pleads guilty in Terra/Luna stablecoin collapse case
The plea marks the beginning of the end of the case over the $50 billion collapse in May 2022 of stablecoin TerraUSD.
Citizens names Barclays executive as its next finance chief
The Providence, Rhode Island-based bank has hired Aunoy Banerjee as its next CFO, a role that will be vacated by State Street hire John Woods. Banerjee is currently the CFO of Barclays Bank PLC.
Bank fees for data access threaten the foundations of open banking
The CFPB must unequivocally state that consumers own their financial data and prohibit financial institutions from monetizing access to it. No one, not even the biggest bank in the country, should dictate with whom consumers can share their data.
Paxos aims to move from New York to federal oversight
The crypto-focused firm’s OCC trust bid would shift supervision from New York to Washington at a time when regulators are signaling openness to fintechs engaging in banking
Fifth Third continues Southeast push with move into Alabama
The Ohio-based bank opened its first branch in Alabama, with plans to open 14 more over the next three years.
Trump names Heritage’s EJ Antoni to lead Bureau of Labor Statistics
Trump appointed Antoni, who has been vocal about his concerns with BLS jobs data and revisions, in a Truth Social post Monday. The position is subject to Senate confirmation.
Innovation of the Year: Why JPMorganChase, Starion Bank won
The banks have invested in gen AI and embedded finance, respectively.
America’s most overlooked data breach is happening at the mailbox
Theft of paper checks and their use in identity theft constitute a major blind spot in the private sector’s fraud detection networks. Banks and regulators need to come together to find solutions.