Bank of New York Co. said Thursday it filed applications with the
The New York bank acquired its current 4.99% in the third quarter of
While Bank of New York made the common disclaimer that its move is "for
David Berry, director of research at Keefe, Bruyette & Woods, said
Mr. Berry said he "does not take at face value" that Bank of New York is
At the same time, Mr. Berry said if Bank of New York covets an
The court upheld the Federal Reserve Board's right to block Custodia from direct access to its payment systems. The bank is considering asking for a rehearing.
The Tacoma, Washington-based bank, which has completed two mergers since 2023, said Thursday that it will buy back up to $700 million of its own shares over the next year.
New York State's former top regulator Adrienne A. Harris has rejoined Sullivan & Cromwell as of counsel and senior policy advisor; Founders Bank appointed Karen Grau to its board of directors; Deutsche Bank's DWS Group is opening an office in Abu Dhabi; and more in this week's banking news roundup.
Earned wage access provider EarnIn, which historically has been known for direct-to-consumer EWA, is now integrating its services with payroll providers. The move comes as consumer advocate groups step up efforts for stricter regulation of the industry.
As the political dispute drags on, there are implications beyond government disbursements, potentially harming corporate cash positions and the larger economy, according to payment experts from Billtrust and research firms.
As the Office of the Comptroller of the Currency receives a spurt of applications for national trust charters from crypto and payments firms, bank trade groups are urging regulators to ensure proposed activities fit within the statutory limits of the charter and the law.
