Sen. Richard Shelby (R-AL) had the usual praise for credit unions in his remarks, but offered little insight beyond that. After saying, "I strongly support the mission that's embedded in your credo of 'not for profit, not for charity, but for service'," Shelby, chairman of the Senate Banking Committee, added, "It's going to be an interesting year, legislatively and politically."
The wealth management firm received its conditional approval from the OCC as it seeks to manage custody of digital asset investments for its clients.
Colony Bankcorp has reached a $163 million deal to acquire Florence, South Carolina-based First Reliance Bancshares.
The Federal Deposit Insurance Corp. issued proposals Thursday that would reduce planning requirements for big banks and slash deposit insurance prices, citing the financial health of the Deposit Insurance Fund.
The card network's recent partnerships attempt to build demand for new forms of artificial intelligence while feeding "value added" revenue — a nonpayment fee metric that investors watch closely.
Christopher Phelan, President Donald Trump's nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.
The $44 billion fintech also appointed a new CTO and head of engineering as it foregrounds artificial intelligence in strategic decision-making.
