Dime names new CEO, BayFirst names new finance chief and more
Dime Community Bancshares tapped insider Stuart Lubow as its next chief executive; BayFirst Financial announced the appointment of Scott McKim as chief financial officer and more in the weekly banking news roundup.
Javice prosecutors seek delay to JPMorgan’s civil case against Frank founder
The U.S. government wants to intervene in JPMorgan Chase’s fraud lawsuit against Frank founder Charlie Javice, asking a federal judge to halt pretrial information exchanges until she has been tried on criminal charges.
OCCU’s four-day workweek test deemed promising but not conclusive
Oregon Community Credit Union in Eugene is seeing employee productivity and satisfaction increase, but is still wary of declaring the program a success.
Banks must publicly disclose data breaches under new SEC rule
The new rule sets a nationwide standard for disclosing all “material” breaches within four days — much sooner than many state-level disclosure rules.
Regulators issue guidance on Fed discount window, emergency borrowing
Citing issues that arose during this spring’s bank failures, the central bank and other agencies urge depositories to ensure they are ready to borrow at a moment’s notice.
Joint Press Release: Agencies Update Guidance on Liquidity Risks and Contingency Funding Plans
JOINT PRESS RELEASE | JULY 28, 2023 Board of Governors of the Federal Reserve SystemFederal Deposit Insurance Corporation National Credit Union AdministrationOffice of the Comptroller of the Currency____________________________________________________________ Agencies Update Guidance on Liquidity Risks and Contingency Funding Plans Federal financial institution regulatory agencies today updated their existing guidance on liquidity risks and contingency planning. The […]
Affirm CEO sees little appetite in the U.S. for Elon Musk’s everything app
Elon Musk’s vision of an everything app that includes banking capabilities may not be what Americans are looking for, said Max Levchin, who co-founded PayPal with the world’s richest man.
Banks reduce exposure to climate-sensitive industries: New York Fed
Large financial institutions have “meaningful but manageable” loan volumes to industries that are most likely to see declines in output and profit after climate-friendly regulations take hold, new research shows.
A beach club dinner and Jamie Dimon’s touch: how PacWest was rescued
Dimon had taken a keen interest in PacWest since April, when the California lender became engulfed in the broader turmoil hitting regional banks.
Fast-growing California bank seeks OK to boost stake in rival
Big Poppy Bancorp has applied to the Federal Reserve to acquire up to 24.99% of Summit State Bank. Both institutions are headquartered in Santa Rosa. Combining them would create the city’s biggest bank.