WASHINGTON – Thousands of runners fanned out through the city yesterday with the credit union brand affixed to their fronts as part of the annual Credit Union Cherry Blossom 10-Mile Run. The race–in which more than half the runners were members of area credit unions-raised $828,000 for the Children’s Miracle Network, the favorite credit union charity, which benefitted by more than $2.5 million since credit union’s began sponsoring it six years ago. More than 700 credit union volunteers from 51 credit unions helped out along the route through the Capital City’s streets. Both the women’s and men’s winners were world-class runners from Ethiopia. Teyba Erkesso, 24, won the women’s race in 51:44, believed to be a world record for women, and her countryman Tadasse Tola, 19, won the men’s portion in 46:01.
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The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
October 2 -
The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
October 2 -
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.
October 2 -
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.
October 2 -
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.
October 2 -
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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