WASHINGTON – Democratic Presidential hopeful Christopher Dodd gathered credit union executives in key primary states in a backroom at the Washington Hilton yesterday after remarks at CUNA’s Governmental Affairs Conference in order to gauge support in those critical states. During his remarks to 3,000 credit union executives and volunteers Dodd hit on populist themes he has been trying out in his new role as chairman of the Senate Banking Committee, like the need to reign in predatory lending and extend credit to the underserved. Afterwards, the Connecticut Senator gathered a handful of representatives to the earliest Democratic primary states, Iowa, New Hampshire, Nevada, as well as his home state of Connecticut, and California, to try and gauge the support of those issues in their states, according to individuals who were present at the closed-door meeting. But Dodd never asked for their support, financial or otherwise, the attendees said. Dodd is one of a half-dozen Democrats already running for the 2008 nomination.
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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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