With its Partnership Conference and Annual Meeting being held just hours before the World Champion Boston Red Sox hold a flag-raising ceremony and home opener, Eastern Corporate FCU is taking advantage by beginning the meeting with a baseball-themed event. Leading off was a panel discussion, "Inside Baseball: Meet the Regulators," moderated by Mary Ann Clancy, senior VP/general counsel for the Massachusetts Credit Union League. Joining her were NAFCU's Bill Donovan, NCUA's Mark Treichel, Massachusetts Commissioner of Banks Steven Antonakes, and New Hampshire league counsel Russ Hilliard. A raffle will be held to select two lucky credit union officials, who will be whisked via limousine to Fenway Park for the Red Sox game against the New York Yankees. The day wraps up with "Extra Innings," giving attendees a choice of three workshops on topical credit union issues.
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JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
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House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
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The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
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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.
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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.
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The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
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