PORTLAND, Mich. Portland FCU today announced that Gary May, its president and CEO, will retire April 27, ending 42 years in the credit union movement, the past 32 as head of the $234-million credit union.
May began his career at Portland Federal in 1978 when the credit union had $3.5 million in assets and 4,000 members. It now has 23,000 members and serves four surrounding counties.
Federal Reserve Gov. Christopher Waller said Tuesday that central bank researchers using Artificial Intelligence must follow security protocols designed to protect sensitive data.
The move comes about a year after rising delinquency levels prompted SBA to raise lender fees and tightened underwriting standards in its flagship 7(a) program.
Select ChatGPT users can now connect their bank accounts to the AI-powered chatbot for personal money management advice based on their financial history.
Suncoast Credit Union moved from one-time identity checks to monitoring members for the life of the account. It says fraud losses fell more than a third.
The $110 million settlement, which was mapped out last fall, requires Wells Fargo to establish a $100 million fund to provide downpayment and closing-cost assistance to eligible borrowers who live in or plan to buy a home in certain low- and moderate-income census tracts.
Whether red or blue, leaders share an affinity for battling fintech giants, as the liberal mayor is pressuring regulators to scuttle Western Union's plan to buy digital transfer Intermex, shortly following PayPal's 'DEI settlement' with the Trump administration.
