PASADENA, Calif. - (02/23/06) -- Wescom CU said it has chosen fivearea charities to receive donations from its WeCare Foundation for2006, which contributed $87,500to local non-profits in employee andcredit union funds last year. This year's charity targets are: TheHouse Ear Institute's Children's Auditory Research and EvaluationCenter; Canine Companions, which provides trained dogs for thedisabled; Hope House, a center for women fighting substance abuse;and Free Arts for Abused Children, artists who assist abused andneglected children. In addition, WeCare will continue this year tosupport The Unfogettable Foundation, which helps pay low-incomefamilies pay children's funeral costs.
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At a conference in New York, Joseph Otting reflected on the difficult hiring decisions he made early in his tenure heading Flagstar Bank, which just two years ago was on the verge of collapse.
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Back-office automation fintech BILL Holdings is using JPMorgan Payments white-label digital wallet to subledger its own clients' accounts. Reconciling client payments for BILL's corporate card, the BILL Divvy Card is the company's first use case.
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Like the Olympics, the event is used to push and measure engagement and appetite for emerging checkout options.
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The Treasury's Financial Crimes Enforcement Network and federal banking and credit union agencies limited issuers' know-your-customer obligations to direct-to-consumer services, preliminarily rejecting a "global" customer due diligence requirement they say is unfeasible.
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The bank is following in the footsteps of Goldman Sachs, which made a similar move in April.
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A potential deletion from a long-standing regulatory definition has banks questioning how to classify vast swaths of their lending books.
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