The Credit Union Executives Society (CUES) inducted four people into its Hall of Fame during a special ceremony at its CEO Network here. Inducted were: Wayne Bunker, CEO of Provident Central CU, Redwood City, Calif., who was recognized for his career accomplishments and numerous volunteer roles; Pete Crear, EVP/COO with CUNA, who was inducted for a career that dates to 1965, including leading several leagues and league subsidiaries, a variety of volunteer positions, and helping to organize 23 CUs; Dennis Dollar, chairman of the NCUA, who while president of Gulfport VA FCU in Mississippi won several awards, and has also been active in a variety of civic organizations; and Stan Hollen, president of Liberty Enterprises, Mounds View, Minn., who was recognized for his leadership at Liberty, the company's support of the National CU Foundation, and his CU career, including nearly 20 years as president/CEO of The Golden 1 Credit Union, Sacramento, Calif.
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Chair Travis Hill said SVB showed banks can't always sell securities fast enough to cover deposit outflows, but acknowledged the "stigma problem" with discount window borrowing remains unsolved.
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At a conference in New York, Joseph Otting reflected on the difficult hiring decisions he made early in his tenure heading Flagstar Bank, which just two years ago was on the verge of collapse.
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Back-office automation fintech BILL Holdings is using JPMorgan Payments white-label digital wallet to subledger its own clients' accounts. Reconciling client payments for BILL's corporate card, the BILL Divvy Card is the company's first use case.
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Like the Olympics, the event is used to push and measure engagement and appetite for emerging checkout options.
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The Treasury's Financial Crimes Enforcement Network and federal banking and credit union agencies limited issuers' know-your-customer obligations to direct-to-consumer services, preliminarily rejecting a "global" customer due diligence requirement they say is unfeasible.
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The bank is following in the footsteps of Goldman Sachs, which made a similar move in April.
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