WASHINGTON - (05/11/05) President Bush officiallynominated Rodney Hood, a top executive in the Department ofAgriculture, to the NCUA Board Tuesday. Hoods name was sentto the Senate, where the Senate Banking Committee will decide firstwhether to endorse his nomination, then send it on to the fullSenate for a vote for confirmation. Hood is currently associateadministrator for rural housing in the Agriculture Department. Ifconfirmed by the Senate he would serve the final four years on asix-year term. Even though Hoods name was sent to the Senatefor his consideration, President Bush could still seat himimmediately to the three-member NCUA Board as a recess appointeewhen the Senate adjourns in two weeks for its annual memorial Dayrecess.
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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.
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