Indusind Bank Ltd. has deployed its first solar-powered ATM, a spokesperson for the Mumbai-based financial institution says. The bank plans to deploy similar machines across India, but the spokesperson would not say how many or when. The ATM deployments fall under the bank’s “Green Office” campaign, the spokesperson says. The solar-powered machines, made in collaboration with with Mumbai-based Centre for Environmental Research and Education, are designed to use energy from the sun for eight hours per day, and they can store unused solar energy, the spokesperson says.
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The National Credit Union Administration Tuesday submitted a rule to the Office of Management and Budget stating that federal law preempts state laws on interchange, blocking an Illinois statute banning the collection of swipe fees on taxes and tips.
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The Federal Financial Institutions Examination Council — whose members include federal bank regulators — issued a proposal Tuesday to overhaul the bank supervisory ratings process, the first such revision in 30 years. The proposal would reduce the weight management grades have on supervisory ratings and would require rating downgrades to be tied to explicit financial risks.
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JPMorganChase's shareholders have occasionally floated proposals to make sure the bank's lobbying dollars match its public statements. At the company's annual meeting on Monday, support for one such measure was down significantly from a similar proposal in 2023.
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Flagstar Bank extended Joseph Otting's employment contract by one year and granted him new stock awards. Simultaneously, the bank promoted two executives to serve as co-presidents, in a move that could be a hint at CEO succession plans.
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The two fintechs will increase distribution of a 'pay by bank' option that has picked up steam in recent years as merchants and consumers seek relief from card fees.
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The Treasury Department's General Counsel Brian Morrissey resigned his post as controversy grew over a Department of Justice settlement creating a fund to compensate for alleged victims of prosecution by the Biden administration.
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