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Wall Street gets an automated nonfungible tokens machine, credit union arrivals and departures, and more in banking news this week.

James Bullard, the president of the Federal Reserve Bank of St. Louis, said the central bank hasn't moved fast enough to tame inflation. He is also urging colleagues to begin shrinking the Fed's balance sheet in the second quarter.

Following the departure of longtime chairman and CEO Dan Sheehan, the company has chosen Abel Iglesias, president of Professional’s bank subsidiary, as the new CEO. Meanwhile, director Herbert Martens has become nonexecutive chairman.

The $1.6 billion-asset institution says it has simply outgrown its old moniker.

Its modifications aim to help two government-sponsored mortgage investors manage risk and rebuild capital while retaining enough flexibility to fulfill their affordable housing missions, said the Federal Housing Finance Agency’s acting director, Sandra Thompson.

The firms are working to make this subset of cryptocurrency — which is designed to avoid wild swings in valuation — easier to adopt and more useful for routine transactions by focusing on "last mile, or user experience layer," says Jeremy Allaire, Circle's CEO.

Respecting employees’ time and expecting them to respect others’ sets a tone. It brings structure to organizations and fosters professionalism, reliability and trustworthiness.

Russian President Vladimir Putin will initially focus on assisting lenders hit with penalties imposed by the West in connection with the invasion of Ukraine, according to attendees of a closed meeting with Russian officials to address the impact of the conflict on big business.

Cloud-hosted systems add flexibility to develop payment and lending services that aren't possible on legacy platforms. “We want to develop products that suit our customers rather than what our core provider tells us to provide,” said Samantha Pause, chief marketing and benefit officer at Mascoma Bank in New Hampshire.

Brad Bolton, incoming chairman of the Independent Community Bankers of America, wants the advocacy group to push back against overly broad policymaking and credit unions' tax status, while opening the door to cannabis banking.