Western Alliance completes management shuffle with hire of credit chief
The appointment of Lynne Biggio Herndon as chief credit officer marks the final step in the Phoenix-based bank’s leadership reorganization.
Starbucks’ mobile app criticized; Worldpay, Alchemy partner
In the news this week: A consumer group filed a complaint against Starbucks over its mobile app and reloadable gift cards, Worldpay partnered with crypto payment firm Alchemy, The Clearing House hired Amanda Stewart as its new marketing chief, and more.
Community banks are deepening ties to fintech hubs
Reading Cooperative Bank and Queensborough National Bank and Trust are among those that see value in being close to fintech startups.
McKernan concerned with asset management giants’ influence on banks
FDIC Board Director Jonathan McKernan voiced worry about the growing influence of Vanguard, BlackRock, and State Street on publicly traded banks Friday, suggesting regulators more actively review their interactions.
How ECIP capital is driving change at one mission-based lender
Southern Bancorp in Little Rock, Arkansas, plans to put $250 million in equity capital it received from the Treasury Department to good use making mortgages and acquiring banks.
New payment CEOs taking the spotlight for 2024
These executives have taken charge at firms like PayPal, Discover and Early Warning Servcies during a volatile time for the entire industry.
We need to introduce more ‘friction’ in cryptocurrency transactions
The use of digital wallets to finance the Hamas attack on Israel highlights the need for tighter controls on the transfer of cryptocurrencies.
Top House financial services committee member Luetkemeyer to retire
Rep. Blaine Luetkemeyer, R-Mo., was seen as a frontrunner to replace outgoing Rep. Patrick McHenry as the top Republican on the House Financial Services Committee before his announced retirement from Congress Thursday afternoon.
Banks and fintechs unload on CFPB’s open banking plan
In comment letters to the Consumer Financial Protection Bureau concerning its proposed rule to allow consumers to share their banking data with third-party providers, banks worry about implementation costs while fintechs fear the rule will stymie innovation.
FDIC’s unusual order against tiny Utah bank: Sell yourself or liquidate
One of the smallest banks in the country hasn’t consistently made a profit since 2007 and has been the subject of enforcement actions. The FDIC’s public rebuke against it indicates a last-ditch effort to figure out a less messy solution than receivership.