Credit unions

Jenkins succeeds retiring CEO Gary Regoli at the Florida-based credit union, which has acquired several community banks and launched a bitcoin service that it later shut down.

Edward Arthur Nurse was in charge of the vault at Park Side Credit Union. Then $389,000 went missing, replaced by piles of fake cash.

A study sponsored by America's Credit Unions finds that removing credit unions' tax-exempt status could raise consumer costs by $234.6 billion over 10 years, hurt GDP and result in job losses.

FNB Corp marked the grand opening of its new downtown Pittsburgh headquarters this week. The bank owns and occupies the majority of the 26-story tower in the city's Hill District, a new addition to the city's skyline and one of the few new towers built in the city's business district in recent years. And long-time bank executive Robert Goldstein has died at 84.

Republicans' emerging tax bill could include a measure to subject some credit unions to federal taxes, reigniting a long-simmering conflict between bankers and credit unions.

The credit union suffered a ransomware attack in June 2024 that affected nearly all of its banking systems.

Jon Weiss, Wells Fargo's co-CEO of corporate and investment banking resigned from his position with plans to retire; A new CFPB report says military service members paid more for auto loans and add-on products; City National Bank's Kelly Coffee is leaving the bank after her 2023 demotion; and more in this week's banking news roundup.

John Asbury, who is CEO of Atlantic Union Bankshares, said credit unions that compete head-to-head with for-profit banks should lose their tax-exempt status. He also called for bank regulation based on complexity rather than size.

The Michigan-based institution lowered overdraft and nonsufficient fund fees to 99 cents amid a torrent of regulatory rulemaking and action related to overdraft.

Christopher Mufarrige is named acting director of the FTC's Bureau of Consumer Protection; TD Bank promotes Andrew Stewart, Nadir Johnes and Jo Jagadish; PayPal's John Kim is leaving the company; and more in this week's banking news roundup.