TAMPA, Fla. – Nexcentri, a CUSO part-owned by Tampa Bay FCU, has introduced a new online banking service targeted at small and medium-sized financial services institutions. The platform is dubbed Cinch!.
The CUSO’s online banking suite includes a number of services geared at credit union customers. Among them are multi-factor authentication and multi-user roles, as well as account transfers and summaries, SMS and e-mail alerts and utilization reports.
President Trump and Senate Banking Committee Chair Tim Scott, R-S.C., visited the Federal Reserve Board headquarters Thursday afternoon to inspect ongoing renovations whose cost overruns have heightened scrutiny of Fed chair Jerome Powell.
The two Southeast banks agreed to combine in a transaction valued at $8.6 billion. Synovus CEO Kevin Blair would be chief executive of the combined bank, but a slim majority of board members would come from Pinnacle.
Flagstar Bank wants to merge its holding company into the bank, which would cut $15 million in annual expenses and eliminate regulatory oversight by the Federal Reserve, leaving the OCC as its primary regulator. The bank's CEO, Joseph Otting, is a former comptroller of the currency.
Fifteen banks have failed since 2019, with the most recent one occurring on Jan. 17.
Fedwire has migrated to ISO 20022, a messaging standard designed to make it easier for digital real-time processing rails to work together. It's a difficult lift for banks, but the agency promises it will be worth it.
Bread Financial continues to keep its eye on the potential inflationary impacts of the Trump administration's trade policies, despite the fact that its delinquencies and losses declined in the second quarter.
