LOWELL, Mass. – Jeanne D’Arc CU, one of the oldest credit unions in the nation, said yesterday it has hired Mark Cochran, executive vice president chief operating officer at $1.4 billion Affinity FCU in New Jersey, as its new president and CEO. Cochran will succeed well-known Paul Mayotte, who is retiring August 1, after 24 years with the credit union. Jeanne D’Arc CU was chartered in 1912 and has more than $600 million in assets.
The legislation would let merchants, as well as banks and credit unions, round cash transactions to the nearest nickel, part of the administration's effort to discontinue the penny.
Federal Reserve Gov. Michael Barr said artificial intelligence has not yet had a material impact on the labor market, but governments and businesses should be prepared nonetheless.
The Securities and Exchange Commission issued a notice reminding companies to be rigorous in valuing private credit-related assets and disclosing their valuation techniques to investors.
The Federal Reserve's top regulator said Tuesday that bank boards, managers should be active in preventing cyber incidents, but supervisory oversight needs to be tailored by size and complexity.
Citi has been spending a lot of time recently trying to help its customers release trapped liquidity, CEO Jane Fraser said during the keynote address at Sibos in Miami.
The American public has soured on AI amid dire warnings about the technology's safety. But at banks, the approach is still full steam ahead.
