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Daily edition for January 04, 2022

Democrats largely left the financial sector alone last year. But they are attempting to resurrect a bank tax-reporting plan to help pay for President Biden’s social policy package while keeping a close eye on cryptocurrency and how regulators review mergers.

The Secured Overnight Financing Rate has benefited — amid the phaseout of Libor — from positive comments by regulators. Is a multirate environment, which some banks would prefer, still possible?

The combination of Community 1st Credit Union in Ottumwa and HomeTown Credit Union in Shenandoah will bring together more than 68,000 members and 21 branches. The merged entity will have over $980 million of assets.

The inquiry looks into the tech company's requirement that developers use its in-app payment system, which has also faced scrutiny in the U.S. and elsewhere.

Portsmouth Schools Federal Credit Union hadn't reported a profit in years and its losses through the first three quarters of 2021 exceeded $200,000.

JPMorgan Chase hired Ben Ratner from the Environmental Defense Fund to help advise banking clients on lowering their carbon footprint to combat climate change.

Several providers are building technology to try to prevent malware attacks when retailers accept contactless payments directly through their smartphones.

Hafize Gaye Erkan stepped down just weeks after the bank's founder, chairman and co-chief executive, James Herbert, announced a medical leave of absence. The San Francisco company named an interim CEO and said it will conduct a search for Herbert’s successor.

If there's one thing the Great Resignation has taught us it's that workers crave flexibility and autonomy. In banking, younger and midcareer executives are becoming self-employed or gravitating toward fintech.

Pomona Postal Federal Credit Union, which the National Credit Union Administration placed into conservatorship in November, has merged with the Credit Union of Southern California.

The new business line is part of a broader expansion plan the Pennsylvania bank announced in 2021.

Wall Street’s push to refill office towers across the country has been derailed again. This time it’s the highly transmissible omicron variant of the COVID-19 virus that’s forced executives to rethink their plans.

Morgan Stanley agreed to pay $60 million to settle a class action suit by consumers claiming the firm failed to safeguard their personal information.

Daily edition for January 03, 2022

Industry leaders in the spotlight this year include Citi's Jane Fraser, TD's Bharat Masrani and several others who are making big moves in cryptocurrency.

The Trump-appointed head of the Federal Deposit Insurance Corp., Jelena McWilliams, said she plans to leave the agency in early February. The announcement comes weeks after Democratic appointees making up a majority of the board had threatened her leadership by acting on policy related to bank mergers without her consent.

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.

Mexico’s central bank will have its own digital currency in circulation by 2024 as part of efforts to boost financial inclusion.

First Premier Bank in South Dakota revamped its online sign-up process to allow customers to name the banker who referred them. This helps bankers overcome their reluctance about digital accounts and lets them start relationships with new customers.