BYNUM, Ala. – AOD FCU announced the hiring of Richard Simonton, an experienced credit union executive who recently served as NCUA conservator of Keys FCU in Key West, Fla., to be president and CEO of the $250 million credit union.
Simonton, who began his career as an NCUA examiner, also served as CEO of Insight CU in Florida.
AOD FCU was chartered in 1950 to serve employees at the Anniston Ordnance Depot and now serves 350 select groups.
The card issuing fintech has worked for years to expand its business outside of Block. Mike Milotich, who in February became the third person to hold the fintech's top job in as many years, has been tasked to do just that.
As the class action lawsuit settlement industry became overwhelmed with fraud, a bank and a fraud scoring company teamed up to fight back.
Federal Reserve Gov. Lisa Cook said in a speech Friday that the market's response to recent volatility shows resilience, but more study is needed about the financial stability implications of business relationships between banks and nonbanks.
The Supreme Court blocked a lower court injunction reinstating two Democrats who had been fired without cause from the National Labor Relations Board and Merit Systems Protection Board, explicitly holding that Federal Reserve Board members would not be affected by the case.
BancFirst Corp. plans to acquire American Bank of Oklahoma; JPMorganChase rolls out a new platform to advise clients on international dynamics; Greg Cunningham takes on a new title, expanded duties at U.S. Bancorp; and more in this week's banking news roundup.
With licensing bills progressing through both the House and Senate, stablecoins are poised to become part of the regulated financial sector. How the banking and payments landscape will respond to that is up for debate.
