SAN BERNARDINO, Calif. - Norton Community CU has a new name and will soon have a new office to call its home. The $150 million credit union changed its name to AltaVista CU on April 1 and will break ground next week on a new headquarters in the nearby Redlands. The credit union, chartered in 1943 to serve civilian employees at Norton Air Force Base, was converted to a multiple group credit union in 1994 after the air base closed, then to a community charter in 200 covering San Bernardino County. Plans for the new headquarters call for a 22,000 square-foot home office and branch.
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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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