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The New York City Banking Commission will now require banks seeking access to municipal deposits to provide detailed plans about how they are combatting discrimination. The commission is also implementing a public comment process as part of its process for determining which banks are eligible.
February 10
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As the Office of the Comptroller of the Currency rethinks its bank merger framework, the standard metric for determining a bank's deposit concentration in a merger review is increasingly irrelevant, officials say.
February 10
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Super Bowl spending spikes, Openpay closes, Mastercard takes aim at gamers, and more in banking news this week.
February 10
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The appointment of Mung Chiang should lead to more robust oversight, sharper questions and overall stronger corporate governance, First Merchants CEO Mark Hardwick said.
February 10
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PayPal is pausing work on the project as regulators increase scrutiny of cryptocurrencies and a key partner faces a probe by the New York State Department of Financial Services.
February 10
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In a speech on digital assets and decentralized finance, the Federal Reserve Board governor said the underlying technology of the volatile sector has value.
February 10
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Federal Housing Finance Agency Director Sandra Thompson said that Federal Home Loan Banks benefit from the implied guarantee of the U.S. government.
February 10
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Albuquerque-based One Hope Financial Institution will focus on small-business owners who have been historically excluded from traditional banking services.
February 10
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Darius Wise was tapped to become the credit union's chief executive in full, after holding the role of interim CEO since May 2022.
February 10
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Compliance software helps banks onboard and monitor cannabis business clients in a regulatory grey zone.
February 10
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The central bank has raised rates aggressively for nearly a year, but experts believe the hiking cycle is nearly over.
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Coinbase shares fell the most in more than six months after rival Kraken was forced to stop providing an investment service also offered by the largest U.S. cryptocurrency exchange.
February 10
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The two banks are now targeting May 27, three months later than their previous goal. The transaction, which would create a top-six U.S. bank by asset size, was originally expected to be completed last fall.
February 10
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Aaron Beldner replaces Dennis Halpin, who retired last month.
February 10
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The agency needs to demonstrate the moral courage necessary to break up unmanageably large banks.
February 10
Americans for Financial Reform -
Sluggish single-digit e-commerce growth drove PayPal to postpone its forecast for the coming year, as CEO Dan Schulman, who plans to retire this year, itemized further cost cuts.
February 10
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The Federal Home Loan Banks system's primary affordable housing program has not had an in-depth review in more than 12 years, according to a new inspector general report.
February 10
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The Community Bankers Association of Illinois is calling on regulators to issue guidance that would make large financial institutions toughen customer verification and be more cooperative in resolving disputes over falsified checks.
February 9
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Schulman, president and CEO of PayPal since 2014, will leave at the end of 2023. He will continue to serve on the company's board and will join in its search for a successor, the company said.
February 9
