The Latest

LAFCU in Lansing, Mich., has named Patrick Spyke its new chief executive officer. Spyke, who has been LAFCU's executive vice president since 2013, will succeed Robin Frucci as CEO when he retires March 31.

The San Rafael, Calif., company has stayed at roughly the same asset size for six years now, even though it has the capacity and desire to become much larger. The reasons speak to the competitiveness among lenders and the fickle nature of bank M&A.

Members Credit Union in Winston-Salem, N.C., announced that longtime President and CEO Jack Braswell will retire in September.

The CFPB wants a federal district court to enter a final judgment to shut down a student debt relief scheme that allegedly charged borrowers millions of dollars in illegal upfront fees for federal student loan services.

First Resource Bank in Exton, Pa., has redeemed its remaining preferred shares tied to the Small Business Lending Fund.

The Federal Deposit Insurance Corp. approved a final rule Tuesday that will reconfigure bank assessments once federal reserves reach a statutory threshold.

PacWest Bancorp in Los Angeles has named Stanley Ivie, a regional director for the Federal Deposit Insurance Corp., its chief risk officer and an executive vice president. He started Monday.

The real-time, person-to-person payments service launched last week by U.S. Bank and Bank of America with clearXchange will service as a litmus test for whether, and how much, consumers are willing to pay for quick money transfers.