TORONTO -- Credit unions as Super Heroes? That’s what NAFCU President Fred Becker posited before he ripped off his shirt and tie to reveal a Spiderman costume during his group’s 39th annual convention Thursday. Why Spiderman? That’s because he’s a regular guy, doing great things for average people, said Becker during his keynote address to the convention's 2,000 attendees. And like Spiderman, credit unions are able to rescue citizens from villainous banks, protect them from predatory lenders, and serve the needs of all Americans. Becker also departed from his usual approach and urged the gathered credit union executives to step out and take some risk on their communities and on needy members. “Our primary focus should always be our members, and helping others become members—not our CAMEL ratings,” said Becker. “But I believe that we can strike a balance—and like Peter Parker (Spiderman's alter ego)—be Super Heroes—even though we’re just regular people”.
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BayFirst Financial, which has reported problems with SBA loans, expects to reach an agreement with its regulators in connection with credit administration and other issues.
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A report from J.D. Power indicates that the neobank Chime gained the highest percentage of newly opened checking accounts in the third quarter of 2025.
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The court upheld the Federal Reserve Board's right to block Custodia from direct access to its payment systems. The bank is considering asking for a rehearing.
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The Tacoma, Washington-based bank, which has completed two mergers since 2023, said Thursday that it will buy back up to $700 million of its own shares over the next year.
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New York State's former top regulator Adrienne A. Harris has rejoined Sullivan & Cromwell as of counsel and senior policy advisor; Founders Bank appointed Karen Grau to its board of directors; Deutsche Bank's DWS Group is opening an office in Abu Dhabi; and more in this week's banking news roundup.
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Earned wage access provider EarnIn, which historically has been known for direct-to-consumer EWA, is now integrating its services with payroll providers. The move comes as consumer advocate groups step up efforts for stricter regulation of the industry.
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