MasterCard International of Purchase, N.Y., has named Goldman Sachs & Co. as the lead underwriter for its coming initial public offering.
In a regulatory filing Monday with the Securities and Exchange Commission, MasterCard said it plans to offer 61.5 million class A shares and use the proceeds to "drive growth by further penetrating our existing customer base and by expanding our role in targeted areas of the global payments industry."
As it rolls out dozens of new products to up its game in stablecoins and artificial intelligence, the payment company is also working with sellers wishing to expand activities involving non-U.S. corridors.
Jim Richards, who served as the bank's head of anti-money-laundering compliance, says the Federal Reserve is wrongfully denying him compensation that was designed to keep him employed at Wells Fargo.
New Jersey-based ConnectOne Bancorp received FDIC approval for its merger with First of Long Island Corp; lending-services fintech Oportun makes changes to its board of directors; Associated Banc-Corp's Steven Zandpour will succeed David Stein as head of consumer and business banking; and more in this week's banking news roundup.
While Vista Bank is focusing on organic growth in Florida, it's positioning itself as a Texas buyer.
The Trump administration says it will nominate Jonathan McKernan to serve as Treasury undersecretary for domestic finance. McKernan has already been nominated as the next director of the Consumer Financial Protection Bureau.
The man who blew the whistle over the incident says the bank fired him in retaliation for reporting what he called a "significant security breach."
