WASHINGTON - (01/26/05) -- The underdog Philadelphia Eagleswill defeat the New England Patriots in the Super Bowl Feb. 6because credit unions in the City of Brotherly Love are strongerthan their Boston counterparts, according to a prediction fromCallahan & Associates. The company examined seven ratios todetermine the financial strength of the credit unions in eachteam's respective city and found that Philadelphia credit unionsare experiencing stronger growth and higher return-on-assets, "andwe feel that these will be their keys to success." Callahan's usedsimilar data to correctly predict that both Philadelphia and NewEngland would win their respective conference championship games.One caveat: last year, using state data (rather than city data)Callahan's predicted that the Carolina Panthers would defeat thePatriots in the Super Bowl. The Patriots won that game32-29.
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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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