FDIC’s Hill calls for more nuance in regulatory approach to digital assets
Federal Deposit Insurance Corp. Vice Chair Travis Hill Monday criticized his agency’s lack of clarity on digital assets, warning that the current approach risks hindering U.S. influence in the global rollout of blockchain at banks.
A year after SVB went down, regional banks are not out of the woods
Midsize lenders have largely defied the most dire predictions following Silicon Valley Bank’s demise. But the nation’s largest banks still have structural advantages, and the regionals remain hampered by their real-estate heavy portfolios and the continuing impact of high interest rates.
HUD Secretary Marcia Fudge to step down
The head of the U.S. Department of Housing and Urban Development under the Biden Administration said she will transition from public life starting March 22.
Credit union to buy second bank, expand in Washington state
Sound Credit Union said it would acquire Washington Business Bank in a cash deal slated to close in the fourth quarter.
TD taps into iPhones for a leg up in merchant acquiring
TD Bank is among the latest to support Tap to Pay, which allows clients to accept contactless payments on their personal smartphones. Through its investment in Autobooks, it enables others to do the same.
For bankers facing the new CRA rule, it’s time to ‘Fight the Fed’
“Don’t fight the Fed” is the mantra of investors. But, when the Fed does not allow banks to meet the needs of their communities and shareholders through unfair regulations, like the politically motivated CRA final rule, bankers have no choice but to go to court to seek regulatory justice.
From cybersecurity to failed mergers, 5 challenges facing banks and credit unions
Bank of America, Citi and Navy Federal are among banks and credit unions to recently manage through unforeseen challenges.
A crisis-tested bank CEO’s path to leadership
Ken Vecchione, leader of Western Alliance since 2018, grew up listening to his parents talk business strategy around the dinner table. He called on those lessons and his more than 30 years of experience to steer the regional bank through last year’s turmoil.
Western Alliance’s survival saga
Last spring, the company’s executives stared down any banker’s worst fear: the threat of a deposit run. Here’s what kept them off the list of 2023’s dead banks.
Timeline: Western Alliance dodges a bullet
During the March 2023 banking crisis, company executives had to calm panicked customers, shore up liquidity and reassure investors after two other regionals failed. Key decisions during a critical seven-day window likely averted disaster.