Credit Suisse Group announced Tuesday that it had hired Anthony De Chellis, the head of private wealth management at UBS AG, for a newly created post, president of private wealth management.
Mr. De Chellis, who is to begin at Credit Suisse on May 22, was hired to expand its private banking business in the United States. He will work out of New York, as he has been for UBS, and report to Walter Berchtold, the chief executive of Credit Suisse Private Banking.
Washington Trust Bank is executing a slow-but-steady de novo expansion inside the I-5 corridor on the western side of its home state. Its newest branch is slated to open this fall in Tacoma.
New York Attorney General Letitia James alleges that Zelle's parent company, Early Warning Services, failed to adopt basic safeguards to combat fraud. The Consumer Financial Protection Bureau dismissed a similar lawsuit in March without an explanation.
Bank groups, especially those representing the largest institutions, did little in the way of a public campaign against the provisions in the stablecoin bill that could disintermediate traditional banking, but are picking up steam for the upcoming market structure fight.
The lender, which uses existing credit balances to fund installment loans, has linked to Samsung Pay and plans other partnerships in the future to build a global merchant network.
New data from American Banker finds that use cases for intelligent automation are growing across banks and credit unions alike, such as fraud and lending.
Affirm and FICO earlier this year took the first steps to incorporate buy now/pay later loans into consumer's credit reports. But it will be some time before lenders start making credit decisions based on the short-term installments, even if holdouts like Afterpay and Klarna decide to report to the credit bureaus.
