Community banks make top executive changes in September
Multiple lenders recruited and promoted from within to fill leadership posts. Orrstown Financial Services disclosed the retirement of its planned CEO successor.
Schwab CEO Bettinger to step down at start of next year
The change, one among several at the firm’s top, follows on a year that executives have deemed one of the firm’s most difficult in decades.
Fed governor calls for ‘consensus’ on AI regulation
Federal Reserve Gov. Lisa Cook called for weighing the costs and benefits of artificial intelligence, flagged bias and fraud as areas of concern.
Don’t let FedNow wither on the vine
The Federal Reserve’s apparent unwillingness to disclose volumetric details about banks’ use of its proprietary faster payments network suggests the central bank is hiding something. That something could be the slow death of faster payments as the new normal.
CFPB warns of inflated medical billing, hospital collection practices
The Consumer Financial Protection Bureau issued an advisory opinion warning to debt collectors that they cannot rely only on information from a medical provider to collect a debt.
FHFA to tweak capital rule to give Home Loan Banks more liquidity
The Federal Housing Finance Agency has proposed a tweak to capital rules that would give the Federal Home Loan Banks flexibility to manage liquidity during times of stress.
Acquisitive Byline Bancorp strikes again in deal-rich Illinois
The Chicago-based bank said it would acquire First Security Bancorp in Elmwood Park. The transaction would push it close to $10 billion of assets.
Scotiabank taps Nicole Frew as US capital markets co-head
Bank of Nova Scotia shuffled the leadership of its capital-markets business as it looks to increase its presence in the United States.
TD Bank resolves Treasuries spoofing case amid wider U.S. probes
TD Bank must pay more than $20 million to resolve investigations over a former trader’s alleged placement of “spoof” orders to manipulate the Treasuries market.
Fraud remains a major concern for potential FedNow participants
The new real-time payments system is being optimized for speed, not necessarily security, requiring the banks participating in the program to exercise a heightened level of vigilance.