State regulators with the Department of Financial Institutions said Monday they approved two more credit union conversions to charter, the first two of the year. They are: California Bear FCU, Los Angeles ($88 million) and Fiscal FCU, Glendale ($125 million). The DFI approved seven conversions to state charter last year and 38 over the past three years.
Navy Federal Credit Union is among the financial institutions that see an opportunity to serve the 20% of Americans born between 1997 and 2012.
As it rolls out dozens of new products to up its game in stablecoins and artificial intelligence, the payment company is also working with sellers wishing to expand activities involving non-U.S. corridors.
Jim Richards, who served as the bank's head of anti-money-laundering compliance, says the Federal Reserve is wrongfully denying him compensation that was designed to keep him employed at Wells Fargo.
New Jersey-based ConnectOne Bancorp received FDIC approval for its merger with First of Long Island Corp; lending-services fintech Oportun makes changes to its board of directors; Associated Banc-Corp's Steven Zandpour will succeed David Stein as head of consumer and business banking; and more in this week's banking news roundup.
While Vista Bank is focusing on organic growth in Florida, it's positioning itself as a Texas buyer.
The Trump administration says it will nominate Jonathan McKernan to serve as Treasury undersecretary for domestic finance. McKernan has already been nominated as the next director of the Consumer Financial Protection Bureau.
