WETHERSFIELD, Conn. Connecticut Labor Department FCU has named Thomas O’Neil, former CEO of Greater Watertown FCU, as president and CEO of the $13-million credit union.
O’Neil succeeds Marie Kinard, who retired after 13 years at the credit union.
O’Neil worked at Greater Watertown FCU from 1999 until he resigned in December 2012. Before that he was chief financial officer at Northwest Hills FCU.
The online consumer lender beat revenue expectations in the first quarter, but its net income was dragged down by larger provisions that the company attributed to tariff "uncertainty."
The card processor came up short on expected profits but hit analysts' estimates on revenue in the second quarter of its fiscal 2025. CEO Ryan McInerney said growth in payments volume, cross-border volume and processed transactions were strong even in the face of shaky economic conditions.
At a House subcommittee hearing, Republicans proposed "tailoring" regulations for community banks while Democrats railed against Trump's tariffs and cuts to the Consumer Financial Protection Bureau.
The bank's chief technology risk officer details the journey the bank has taken over the last six years, and why it set out to get rid of passwords.
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., and House Financial Services Committee ranking member Maxine Waters, D-Calif., urged the National Credit Union Administration's Inspector general to look into President Trump's removal of two board members.
Rapid deregulation, tariffs and a campaign to dismantle the Consumer Financial Protection Bureau have defined the early days of President Donald Trump's second term for bankers.
