DEARBORN, Mich. – DFCU Financial said yesterday it has signed with Bharosa to implement the company’s multi-factor online system. Bharosa’s Authenticator and Tracker products help credit unions and banks to satisfy the year-end regulatory deadline for installation of a multi-factor authentication solution. The $1.8 billion credit union will deploy several software products from Bharosa, including real-time Bharosa Tracker fraud detection, as well as multi-factor authentication. DFCU will also use Bharosa’s Universal Installation Option to enable seamless integration .
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First Northwest Bancorp is parting ways with CEO Matt Deines "by mutual agreement," the Port Angeles, Washington-based company said. Deines' departure comes a month after a hedge fund sued, alleging the lender was complicit in a Ponzi scheme.
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Federal Reserve Gov. Christopher Waller said that criticisms of the Fed's balance sheet and calls to return to a scarce reserves system are misinformed, saying that much of the central bank's balance sheet is the result of activities outside the Fed's control.
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The Federal Reserve Thursday issued a proposal that would allow banks to be considered "well managed" even if they are found to be deficient in their governance and controls.
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The digital bank had previously notified about 1,000 business customers that they would lose access to their debit cards for a week, amid a systems update.
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Jonathan Gould, who's worked in the crypto industry and has advocated for more fintech and crypto-friendly regulation of banks, was confirmed by the Senate Thursday. He is expected to both continue deregulating the banking sector and encouraging bank-fintech partnerships.
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Several large banks are deploying agentic AI. There's a big difference between managing people and managing AI agents.
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