SAN DIEGO – San Diego Metropolitan CU announced yesterday it has signed to become an official marketing partner with the city of San Diego. Under the five-year deal, the $325 million credit union will pay the city $100,000 a year to call itself the ‘official credit union partner’ of the city and to market its services to city employees and retirees. The credit union will also conduct seminars for city employees on a variety of personal finance topics, as well as identity theft. Other marketing partners with the city include: Vreizon Wireless, the Pepsi Bottling Group, McCune Chrysler-Jeep, Cardiac Science and the Sunroad Community Foundation.
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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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