Americas

WASHINGTON -- Minneapolis Federal Reserve Bank President Narayana Kocherlakota will become the next chair of the Financial Services Policy Committee starting on March 17.

Capital One (COF) has appointed Daniel deBrauwere head of business credit, a newly created role at the bank's asset-based commercial lending and specialty finance unit.

Jay Sidhu's Pennsylvania company is building a separately branded bank that, like Simple, will target a demographic that feels no particular affinity toward traditional banks.

Regulators continue to make Bank Secrecy Act compliance one of their top priorities, according to newly available information on enforcement actions.

Chicago cab passengers who pay their fare with debit and credit cards may be victims of a security breach.

S&T Bank (STBA) has opened a new branch in State College, Pa., and hired two local community bankers to expand its presence in the region.

The Office of the Comptroller of the Currency shuttered the $130 million-asset Millennium Bank in Sterling, Va., while Pennsylvania state regulators closed the $63 million-asset Vantage Bank in Horsham, Pa.

Union Bank in San Francisco and its Japanese parent company plan a series of changes to its corporate names and structure, all in response to the Federal Reserve Board's plan to overhaul the way it supervises foreign banks.

The founder of Pacific Commerce Bank (PFCI), Kenneth Kasamatsu, will retire at the beginning of April to pursue other interests.

Dime Community Bancshares (DCOM) in Brooklyn, N.Y., has appointed a new chief operating officer.