BURNSVILLE, Minn.—U S Federal Credit Union went “hillbilly” in its sponsorship of the Twin Cities North Chamber’s annual gala, in keeping with the gala’s “Heehaw Hootenanny” theme. To compliment the chamber’s theme and décor, the credit union adorned the photo shoot area with a rundown farm setting–displaying a giant barn backdrop and old-fashioned milk cans and barrels. “When we chose to sponsor the photo area, it was clear that we needed to go beyond a couple hay bales and create a real-life feel to depict the ‘hick’ theme,” said Rachel Gronewald, Community Development Specialist. “It was our chance to give attendees an opportunity to visit with us and leave with a credit union branded memento, a photo framed with a specifically designed heehaw border.”
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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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