MADISON, Wis. - (05/25/05) -- Pete Crear, longtime executive atCUNA, was named Tuesday as new chief executive at the World Councilof CUs. Crear will succeed Arthur Arnold, who led WOCCU for fiveyears before leaving in January to return to his home in theNetherlands. Brian Branch has been serving as interim presidentsince then. Crear has more than 40 years experience in the creditunion movement and served as vice president of the Michigan CULeague and president of the Connecticut and Indiana credit unionleagues, before moving to CUNA, where he served until the first ofthe year as senior vice president.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday morning that she is working with other regulators around the world to emphasize innovation in the banking sector, including with artificial intelligence.
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The new Fed is going to do less talking, if Kevin Warsh has his way. But talking is a powerful tool the Fed can use to get what it wants.
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Market watchers say it is plausible that regulators will have established rules of the road for tokenized bank deposits by next year. But to get there, many outstanding issues will need to be ironed out first.
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Oklahoma's Bank7 may acquire New Mexico's Century Bank by the end of the year. The reason: A wealthy Century shareholder is being forced to sell his shares to satisfy a $40 million debt.
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Organizers of Bank of St. George were close to the finish line in 2020 when the COVID-19 pandemic arrived. Now CEO Bruce Jensen says the planned bank should open its doors by the end of the year.
July 6 -
Two executive orders pulled federal deadlines for quantum-proof encryption forward to 2030, after 2026 research cut the cost of breaking today's codes.
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