CROSSETT, Ark. – A state judge is expected to rule within the next 30 days on a motion to kill a wrongful dismissal suit brought by a former employee of Crossett Paper Mills Employees FCU. Court documents show Charlotte Williams was suspended after she made a mistake on a car loan, then her husband came in the next day and socked the then-CEO Dennis Gibson, saying “That’s what you get for what you done to my wife.” The husband was arrested by Crossett police and charged with assault. Williams was fired the next day. Charlotte Williams claims she was wrongfully terminated and, as a result, suffered server emotional stress.
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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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