America First’s Thayne Shaffer announces retirement
Thayne Shaffer announced plans to retire from America First Credit Unions, Cross River Bank has named Evan L. Russo its new president, Citi’s employees in Saudi Arabia will work from home as confrontation with Yemen’s Houthi militants continues to impact the region, and more in this week’s banking news roundup.
How Mike Lyons, Truist’s new CEO, is plotting a turnaround
In his first public remarks since becoming CEO, Lyons shared a vision to turn Truist, which has struggled with profitability, into “one of the country’s top-performing banks.”
Wise on AML: ‘It’s difficult to get everything right’
The payment firm says it has responded to U.S. regulatory concerns on money laundering protections, adding it is investing in compliance technology.
M&T says it’s monitoring impact of AI agents on deposits
Chief Financial Officer Daryl Bible said Friday that M&T has not yet seen a significant impact on deposit flows from customers using AI agents.
Home equity deal shows VantageScore viable for RMBS ratings
A fintech’s transaction is the first to go through S&P Global’s preliminary rating process with VantageScore 4.0 used to underwrite for 100% of the loans.
Truist’s new CEO begins makeover with consumer business
Truist Financial, led since Sept. 1 by CEO Mike Lyons, is revamping its consumer-banking business by bringing on new leadership and selling a non-core lending platform.
Green-lighting new banks could help female entrepreneurs raise capital
Fintech firms are moving in large numbers to acquire bank charters. This could be very good news for entrepreneurs, especially women and minorities, who are often ignored by more traditional banks.
Basel may encourage more nonbank mortgage lenders to go bank
Proposed changes to the risk weightings assigned to certain assets could encourage more nonbank mortgage firms — particularly those with large servicing portfolios — to seek out bank charters.
Forget the billionaire tax. This California measure could affect 376K taxpayers
While California’s proposed billionaire tax gets the spotlight, Proposition 3 could permanently extend higher income tax rates that are set to expire in 2031.
Fed’s Warsh to look beyond interest rates over next 100 days
Federal Reserve Chair Kevin Warsh said he plans to spend the next 100 days focusing on supervision, regulation, payments and other functions of the central bank.