WOBURN, Mass. - (01/07/05) -- EasCorp CU announced it has sold itsALM First Financial Advisors LLC to the CUSO's president, EmilyHollis, and members of the senior management team. ALM First wasfounded in 1995 and provides asset liability management andinvestment services to more than 100 credit unions and has $8billion under management. Terms of the deal were notdisclosed.
The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
Speaking at the New York Federal Reserve's Innovation Conference on Friday, New York Department of Financial Services acting Superintendent Kaitlin Asrow said the regulator was interested in maintaining long-standing consumer protections as AI adoption increases.
Banks face conceptual, operational and other hurdles that threaten further adoption of real-time payments.
