WASHINGTON–Two NCUA officers have won the African American CU Coalition’s Pete Crear Lifetime Achievement Award for 2007. NCUA Region III Director Alonzo Swann and NCUA Director of the Office of Small CU Initiatives Tawana James took this year’s top honors an will be honored at the aACUC’s 9th Annual Summer Conference in Baltimore, Aug. 10. The award was developed four years ago to recognize CU professionals or volunteers “whose sustained excellence in career achievements exemplify” the ACCUC’s mission to “increase the global credit union movement's strength by adding the focused perspective and energy of credit union volunteers and professionals of African-American and African descent.”
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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