SAN FRANCISCO - (08/30/05) -- The Federal Home Loan Bank of SanFrancisco said it has cut its second quarter dividend to 4.21%,compared to 4.68% for the second quarter last year. Dividends arepaid on stock owned by the San Francisco bank's 363 member/ownersin California, Arizona and Nevada, including 40 creditunions.
The fintech, which powers debt collections for banks and credit unions, received a "strategic investment" from Vista Equity Partners to expand into agentic AI.
Bankers face a "critical limitation" due to the vast number of oversight agencies and institutions, like social media companies and telecom institutions, that a fraudster might touch on their way to scam a consumer.
The payments company has used an acquisition of digital asset firm Bridge to gain ground, reminiscent of how fintechs have honed in on banks' payment turf for years.
President Donald Trump asked the Supreme Court to reverse a lower court ruling allowing Federal Reserve Gov. Lisa Cook to remain in office pending the outcome of her lawsuit challenging Trump's move to fire her late last month.
The Toronto-based bank named Rahul Nalgirkar as incoming finance chief. Nalgirkar, who joined BMO in 2022 from Fifth Third, will succeed the retiring Tayfun Tuzun, who came to BMO in 2020 after working at Fifth Third.
Alan Childs pleaded guilty to using straw borrowers and falsified loan records to help a timber businessman secure millions in fraudulent loans.
