Ron McDaniel, known to many within credit unions for his work as past chairman of the California league and on the CUNA board, has been named as president and CEO of California Credit Union. McDaniel was previously CEO at Point Mugu Federal Credit Union, where he served as president for nineteen years and as senior vice president for three years. Under McDaniel's leadership, PMFCU grew from $47 million in assets to $235 million in assets.
Researchers at the Federal Reserve Bank of New York analyzed more than 3,000 historical bank runs and found that weak financial fundamentals — rather than pure depositor panic — determine whether a bank run translates into a bank failure or broader financial crisis.
The card network embedding technology that enables mobile devices to accept payments without additional hardware.
The national bank is releasing an upgraded version of its mobile app to its users in phases after absorbing 780,000 former FirstBank customers last month.
Counter to prevailing narratives about rules and enforcement activity whipsawing from one administration to the next, public citations by federal banking regulators have steadily declined over the past decade — under both Democratic and Republican administrations.
The Las Vegas bank's deal for Arc Technologies comes three months after Capital One paid $5 billion for AI-native payments firm Brex.
With Robinhood Chain now live, the company is pushing into tokenized equities, stablecoin lending and international markets.
