SANTA ROAS, Calif. – Redwood CU claims it is saving more than $100,000 a year in water and energy costs because of a remodeling of its headquarters here. As part of the remodeling the credit union installed waterless urinals and dual flush toilets, which require users to push one of two buttons depending on what type of waste they want to flush. The new toilets are part of a water conservation campaign that saved the $1.3 billion credit an estimated $60,000 last year. The building was also renovated to make the most of natural lighting, while recycled material, like linoleum, carpeting and hardwood floors are used through the building. In addition, a large section of grass was removed from in front of the building and replaced with vegetation that uses less water, in order to reduce water usage.
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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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