Army Reservist Jake Gepford was greeted with a special credit union gift when he returned home from Iraq last week-a special package with gift cards and other goodies, courtesy of the staff at Security FCU. The credit union employees didn't know Gepford, but were prompted to pitch in when one staffer suggested during the holidays that they "adopt" a soldier. The gesture resulted in an outpouring of support over Christmas when the credit union employees sent Gepford a package of snacks, disposable cameras, Christmas cards and money. Last week's gesture was a "Welcome Home" box. Now that Gepford is home, the credit union staff is looking for another soldier to adopt for Easter.
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The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.
May 3 -
A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.
May 3 -
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.
May 3 -
The efforts, which respond to President Biden's October executive order on AI, aim to improve synthetic content detection and improve the trustworthiness of AI models.
May 3 -
Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.
May 3 -
In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.
May 3