The Pennsylvania Credit Union Association has restructured its senior management team. Named to the executive team were Jim McCormack, president/CEO; Bob Hinchey, EVP-fee services; Rick Wargo, senior VP/general counsel; Mike Wishnow, Senior VP-communications & marketing (including overseeing the Pennsylvania CU Foundation); and Kati Shoop, VP-HR/corporate relations. The senior management team will include members of the Executive Management Team (listed above), along with David Dunn, VP-member business services; T. Fetsko, VP- administration/controller; Jan Hartman, VP-governmental affairs; John Kilduff, VP- Credit Union Services; Corinne Sherman, VP- Card Services; Jinny Cosgriff, Assistant VP- education & professional development; and Rick Myxter, Assistant VP-credit union planning & development. Other changes include: Peter Ranck, who was named director-information services; and Ron Celaschi, who was named senior planning consultant.
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A team of ex-First Republic private bankers hopes to serve entrepreneurs who once worked with Silicon Valley Bank.
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The National Credit Union Administration, operating with just one board member, has liquidated two credit unions that were recently put into conservatorship. The failures are the first credit union failures since Democrats on the board were fired, leaving Republican Chair Kyle Hauptman.
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In a joint letter signed by over 50 bank trade groups, leaders in the banking industry urged regulators to revise bank regulatory thresholds upward to keep up with inflation.
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The conviction of a fraud ring mastermind highlights growing risks in home equity lines of credit as equity-rich borrowers become prime targets.
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The Senate passed President Trump's tax and spending bill Tuesday, but questions around Consumer Financial Protection Bureau funding, 1071 delay and remittance taxes remain as GOP leaders scramble to pass the bill out of the House before Trump's July 4 deadline.
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