SAN FRANCISCO - (06/07/06) Patelco CU announced Tuesday itis now offering a 401(k) retirement plan for small businessmembers. The plan is administered by ShareBuilder and consistsexclusively of Exchange Traded Funds. The ShareBuilder 401(k)program features a flat $15 monthly fee per participant, no annualemployer administrative fee, and a 0.65% annual asset fee.Separately, Patelco announced the appointment of Barry Kane, as itschief operating officer. Kane, who has worked for Patelco for 25years, will be responsible for the $4 billion credit unions37 branches in California, call center and back officeoperations.
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The bank is launching KeyVAM, a virtual account management offering it designed with fintech Qolo. Both companies said the nature of the relationship was as important as the technology it produced.
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The top five bank holding companies have combined total credit card loan portfolios of more than $705 billion.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
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Ally Financial ended a six-month search for its next chief executive by hiring Discover CEO Michael Rhodes. The move adds a new wrinkle to Discover's pending sale, though Discover said that Rhodes hadn't been expected to have a long-term role at Capital One following the merger's completion.
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The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 - Yahoo Finance Feed
The banking giant has launched an online platform that links small-business owners and entrepreneurs in need of capital to community development financial institutions. The platform was developed in partnership with Community Reinvestment Fund USA.
March 27