BNY’s new branding, Virginia credit unions to merge
BNY, the country’s oldest bank, drops “Mellon” from its branding; Apple FCU announces plans to merge with NextMark Credit Union; Moelis probes incident after a video circulated online shows one of its senior bankers appearing to punch a woman; and more in this week’s banking news roundup.
How a Mississippi credit union attracted $8 million in new deposits
Statewide Federal Credit Union in Flowood used its partnerships with Bankjoy and Strum Platforms to identify untapped communities in its field of membership and aggressively market its inaugural high-yield savings account.
Truist suffers data breach, hackers claim it affects 65,000 employees
The threat actor Sp1d3r posted an ad for the stolen data on Wednesday. Truist said the October breach is not related to a campaign by the same criminal group.
Fed hits Synapse partner Evolve Bank with cease-and-desist order
The Federal Reserve Board and the bank itself say the enforcement action is the result of a routine inspection, but it comes amid the fintech’s complicated high-profile bankruptcy.
Visa speeds aid to disaster victims with new government-payments app
The card network has developed a digital approach to delivering disbursements for disaster relief and other purposes via mobile devices, without requiring a separately downloaded app.
Program aims to bridge mission-based banks’ deposit gap
IntraFi has joined two banking industry trade groups spearheading an effort to source large institutional deposits at small, cash-starved CDFI and MDI banks.
Goldman Sachs’ fossil fuel financing is bad for its shareholders
The company’s shareholders are ill-served by its large investments in fossil fuel projects that both damage the environment and present major financial risks.
Judge likely to reject $30 billion Visa, Mastercard fee deal
A $30 billion settlement between Visa Inc., Mastercard Inc. and retailers to cap credit-card swipe fees is likely to be rejected by a federal judge in Brooklyn, a setback in the two decade-long litigation.
Trump and Biden court Wall Street with very different visions
Bankers still mostly back Republicans, according to Federal Elections Commission data, but the Biden administration is centering its pitch for support on the economy, regulatory stability and promising higher taxes for the wealthy and corporations.
Most-read mortgage news you might have missed
From updates in mortgage-related court cases, to developments in AI and policy, here are the most-read stories from National Mortgage News over the past week.