KENSINGTON, Md. – Management of Lafayette FCU, fighting growing member opposition to its bid to convert to a bank, withdrew its application to NCUA to switch charters Friday. The $330 million credit union cited issued raised by its auditor, RSM McGladrey, which is reviewing questions raised by NCUA on the 90-day vote to convert. The conversion was approved by members by a razor-thin 18 votes out of 5,100 cast.
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The Minneapolis-based company has promoted Kedia to president, a role that CEO Andy Cecere and his predecessor both held before being named to the top job.
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The Consumer Financial Protection Bureau's overdraft proposal would set fees at $14. With fee income under attack from many sides, bankers say they would have to further restrict credit.
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In a surprise move, the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and Federal Housing Finance Agency proposed a long-awaited rule to curb certain incentive-based pay arrangements for bank executives.
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The $1.1 billion-asset Vibrant is working with the San Francisco-based distributed ledger development firm Metallicus through its Metal Blockchain Banking Innovation Program to examine use cases.
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Forty companies made the 2024 edition of American Banker's annual list of enviable workplace cultures in the financial technology space. Here is a look at some of what makes these firms employers of choice.
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Incumbents face the challenge of updating their infrastructure for digital payments, while newcomers are pushing to compete by using artificial intelligence, cloud hosting and other technologies.
May 6