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Carol Marx succeeds longtime president and chief executive Dennis Tanimoto, who retired in February.
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The banks that own the peer-to-peer payment network are reportedly considering a retail launch that could fend off rival payment methods — or simply cannibalize the sizable revenue issuers get from credit and debit cards.
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The Cincinnati bank is joining other large and regional banks in scrapping nonsufficients-fund fees. The move comes amid continued regulatory pressure on the industry to curtail overdraft fees and related charges.
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The guidance follows similar instructions laid out by the Office of the Comptroller of the Currency late last year.
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Credit unions were unable to garner enough support for a bill that would allow them to hold funds for government agencies in the Centennial State.
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In a letter obtained by American Banker, the Senate Banking Committee chair called on the Federal Reserve and Office of the Comptroller of the Currency to reform their bank merger review processes.
