MOUNT VERNON, Ohio New leadership is temporarily in place at CES CU after the removal of Kelly Schermerhorn, president of the $125-million credit union.
Officials confirmed that Schermerhorn’s employment was terminated recently following a decision of the board.
A reason for Schermerhorn’s termination was not disclosed.
The Federal Reserve, Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency issued a request for information on a range of payments-related fraud trends in order to develop policy solutions to the rising instances of check fraud.
The CEO of First Northwest Bancorp is promising to fight a lawsuit claiming the lender helped a client perpetrate a Ponzi scheme that bilked a hedge fund out of more than $100 million.
San Diego's North Island Credit Union joins a growing number of institutions that are prioritizing AI technology to streamline customer service.
Commerce Bancshares agreed to pay around $585 million to acquire FineMark Holdings. It's the Missouri bank's first bank deal in 12 years.
Buy now/pay later provider Sezzle has filed a lawsuit against Shopify, alleging that the e-commerce giant engaged in antitrust practices by making it difficult for merchants to integrate Sezzle's BNPL offering into their websites.
The bank, which has spent years building an advanced data sharing system, says market forces will drive the project more than political support.
