ANCHORAGE, Alaska—Alaska USA FCU was robbed by a masked robber who was swinging a torch made out of a burning T-shirt and yard-long metal pole. According to local reports, the assailant allegedly threatened to set fire to people inside of the branch and burn down the building. After commanding everyone to get down on the floor and taking an undisclosed amount of money, the man fled on foot. No one was hurt, but when law enforcement arrived on the scene, they found a singed and still-smoldering shirt outside the facility. According to local reports, this was the state’s first bank robbery of the year, and all but one of the 17 bank robberies in 2006 were solved.
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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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