FARMERS BRANCH, Texas-The Texas league reported that 47,000 Texans moved their business to credit unions in the month leading up to Nov. 2, representing $326 million in asssets. That rate is approximately four times the standard growth rate, the league reported. Among Texas CUs reporting increases were First Community Credit Union, Houston, which had seen a 43% increase, and Randolph-Brooks FCU in San Antonio, which said it opened "dozens of new accounts."
The tokenization platform provider, which has a nonbinding agreement with NYSE and is aiming for a public debut, promoted former SEC Trading and Markets Director Brett Redfearn to the role.
Deutsche Bank is raising the base pay of Supervisory Board Chairman Alexander Wynaendts by 21%, Wells Fargo has hired Neil Ghosh as head of chemicals investment banking, Bank of America's Alexandre Bettamio is being considered for chief executive officer of Brazilian stock and derivatives exchange B3 SA, and more in this week's banking news roundup.
The White House Office of Management and Budget will issue paperwork allowing the Treasury Department to disburse congressionally appropriated funds through the Community Development Financial Institutions Fund, breaking an impasse that has stalled funding for months.
The industry reported $275 million in losses from internet crimes last year, a 59% annual increase as losses nationwide surpassed $20 billion.
In a strategic shift, the Walnut Creek-based company has tapped a trio of former PacWest executives to fill its top three management positions.
Artificial intelligence giant Anthropic warned that its vulnerability-scanning AI tool could be used to break operating systems. Is it a systemic risk?
