ANAHEIM, Calif. - (10/26/05) -- Much of the buildup for theCalifornia and Nevada Credit Union Leagues annual conventionhere concerned the pending retirement of David Chatfield, presidentand CEO of both leagues. Chatfield will step down April 1, 2006,and league officials used their time to honor his lengthy CUcareer. Diana Dykstra, chairman of the CCUL as well as presidentand CEO of San Francisco Fire CU, praised Chatfield for hisleadership. Under Dave, the California Credit Union Leaguehas become recognized as the foremost credit union tradeassociation. He will be sorely missed. Dykstra said thesearch committee is hard at work trying to find Chatfieldsreplacement and expects to name that person in January.
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First Northwest Bancorp in Port Angeles has selected an Everett, Washington-based competitor's president to serve as its new top executive.
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The Charlotte-based megabank announced that it had appointed two business leaders to be co-presidents of the bank, and elevated its chief financial officer to serve as executive vice president.
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The Massachusetts bank is being accused of aiding and abetting the operation of a Ponzi scheme centered in Hamilton, New York. The bank declined to comment on the allegations.
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City National Bank promotes Brandon Williams to head private banking and wealth management; a former U.S. Postal Service letter carrier is sentenced to five and a half years for stealing over $10 million in checks from the mail; Lazard expands its North American investment banking franchise with two managing director hires; and more in this week's banking news roundup.
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The government-powered network is allowing larger payments to settle instantly, a move The Clearing House has also made for its RTP network. Payment experts say more than higher limits are needed to make speedy processing ubiquitous.
September 12 -
The world's largest stablecoin issuer is preparing to launch USAT, its U.S.-regulated, dollar-backed stablecoin, by the end of the year, Tether CEO Paolo Ardoino told reporters at an event in New York. Bo Hines was also named CEO of USAT.
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