WILMINGTON, Del. – The FBI is probing the theft of information on hundreds of accounts of credit union and bank customers they believe came from a local drug store. Credit unions in Delaware and Pennsylvania have shut dozens of accounts and reissued cards for members they believe may have shopped at the local Rite Aid, authorities said yesterday. Members at DPL FCU, Delaware First FCU, Franklin Mint FCU, as well as Wachovia, Wilmington Trust, PNC, Commerce Bank and Delaware National Bank, have bene affected by the new breach. Customers at the banks and credit unions said they noticed fraudulent activity showing up on their accounts at the end of January, with cash withdrawals being made from area ATMs in WaWa convenience stores.
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
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The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
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The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
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More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
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Chicago-based Northern Trust has started its search for a new CFO as David Fox plans to retire in March; the American Fintech Council has been appointed as an observer on the Conference of State Bank Supervisors' newly formed nonbank industry advisory; Wells Fargo has hired JPMorganChase investment banker David Harkin to advise on technology deals, and more in this week's banking news roundup.
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A proposal is meant to ensure advisors can trade client assets on a discretionary basis without triggering onerous custody requirements, while also giving them a self-custody option for crypto.
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