Erik Porter named CEO of Cooperative Bank of Cape Cod
Erik Porter will succeed Lisa Oliver as president and CEO of the Cooperative Bank of Cape Cod; Gary Hall and Sobani Warner are named co-presidents of Siebert Williams Shank; Faiz Ahmad and Mike Joo will lead Bank of America’s global investment banking unit; and more in this week’s banking news roundup.
Maryland community bank bucks trend, pins hopes on mortgages
Bank of Glen Burnie, which is seeking to recover from a stretch when its assets declined, hopes that its deal for a residential lender can help boost loan production.
Fiserv pushes embedded payments for health care
Small practices are still mired in paper. Fiserv has joined banks such as JPMorganChase and Citizens in applying new third party transaction technology to the tricky sector.
Trump says he will fire Fed Gov. Cook ‘if she doesn’t resign’
The President said in response to a press question about Federal Reserve Gov. Lisa Cook that he would fire her “if she doesn’t resign” over allegations of claiming primary residence at two properties she owns, though the legality of such a move is unclear.
Jay Leal
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Leaders_Gasan Awad
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Leaders_Chris Briggs
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Revolut offering free subway rides to new NYC customers
As part of its U.S. market strategy, the U.K.-based neobank is offering New York City commuters cashback on public transit fares when they open a new account.
Powell opens the door to interest rate cuts in September
Federal Reserve Chair Jerome Powell said Friday that while the central bank must “proceed carefully” in considering interest rate adjustments in the coming months, recent softness in employment “may warrant adjusting our policy stance.”
Federal credit unions are cashing in on a double tax exemption
Congress should hold hearings to investigate whether credit unions really qualify to operate as tax-advantaged Community Development Financial Institutions.