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Shane Berger, who has been at the helm of Beehive for nearly 37 years, will hand over his responsibilities to Craig Gummow on Jan. 4.

The lender will take a $21.6 million charge related to damage a customer sustained from Hurricane Ida, leading analysts to predict a major drag on earnings. So far, there is little indication that other banks have been similarly affected.

Combined, the two would have over $11 billion of assets and nearly 80 branches serving members of the armed forces across five states and in Italy.

There was $590 million in suspicious activity related to ransomware in the first six months of 2021, exceeding the entire amount in 2020, according to a report by the Financial Crimes Enforcement Network.

Bill Demchak, whose company plans to allow crypto trading through a mobile app, nonetheless expressed concern that digital currencies pegged to the dollar could affect central banks’ ability to control the money supply.

Tether will pay $41 million to settle allegations it lied in claiming its digital tokens were fully backed by fiat currencies, putting a major compliance headache behind the world’s biggest issuer of stablecoins even as regulatory scrutiny intensifies.

A central bank digital currency based on the U.S. dollar could pull deposits from banks, and it might crowd out innovative private-sector products.

The bank, which acquired General Electric’s health care lending business in 2015, is looking to expand its presence amid a merger boom in the sector.

During a House hearing, Democrats advocated for measures that ensure businesses keep accepting paper money, while Republicans argued in favor of chartering more fintechs and promoted stablecoins to extend access to the underbanked.

The new ATMs deter card-skimming fraud through encryption, individually paired card readers and a design that requires users to dip their cards at an angle.