ABA chair sees room for change under Trump administration
John Asbury, who is CEO of Atlantic Union Bankshares, said credit unions that compete head-to-head with for-profit banks should lose their tax-exempt status. He also called for bank regulation based on complexity rather than size.
U.S. Bancorp CEO Andy Cecere to retire, Gunjan Kedia named successor
Kedia will be the first woman to run U.S. Bancorp and one of just two women CEOs at one of the nation’s 50 largest banks.
Congress to mull long-term fix for federal flood insurance
The FEMA-operated program has over 4.7 million policies in force, and lawmakers have kept it intact via dozens of short-term extensions since 2017.
Sen. Tim Scott hints at ‘imminent’ CFPB director pick
The chair of the Senate Banking Committee said the Trump administration will soon address the future of the Consumer Financial Protection Bureau director. “I think we’re going to be happy with the answer they give us and the person they give us as well,” the Republican from South Carolina said.
Sage Capital Bank hopes digital banking upgrade fosters growth
A partnership with fintech Apiture will give the bank new online and mobile banking services by the end of 2025.
HomeTrust to sell east Tennessee branches to Apex Bank
Asheville, North Carolina-based HomeTrust Bancshares is pulling back from the region, selling its two Knoxville branches for an undisclosed sum. Apex will assume the branches’ deposits, valued at an estimated $42 million.
What the critics of a strategic bitcoin reserve don’t understand
There are reasons to be cautious about how a strategic reserve of the cryptocurrency is established, but the economic arguments for including it in the federal government’s portfolio are strong.
Trump’s flip, EU regs give stablecoin issuers hope
Circle and other payment executives say Trump’s stated support for digital assets will remove hurdles that have held back support from merchants and consumers.
M&T Bank hires ex-USAA executive as new chief risk officer
Neeraj Singh joins the Buffalo, New York-based bank after a four-year stint at USAA, which has seen an exodus of top executives.
Citi revamps private bank’s leadership following Ida Liu’s exit
The megabank is simplifying the management structure of its private bank. Regional leaders will now report directly to Andy Sieg, head of wealth.