July 1, 2025
| Today’s news and insights for banking industry leaders
The regulator closed Aldersgate Federal Credit Union and Butler Heritage Federal Credit Union; Aldersgate was placed in conservatorship last month, after operating in an “unsafe and unsound manner.”
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Liquidators of three 1MDB-related companies claim that Standard Chartered permitted more than 100 intrabank transfers that enabled massive fraud of Malaysia’s sovereign wealth fund.
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Primer
Federal banking agency job cuts and a deregulatory push have again stoked conversations around consolidation. Merging agency functions could make sense, but here’s why it’s unlikely to happen.
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Hidden vendor vulnerabilities can derail operations. Get the playbook built for risk leaders in banking to strengthen third-party oversight.
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Jason Schugel, whose 15 years at Ally included six as chief risk officer, has been appointed CRO at Webster, effective July 14.
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The Santa Anna National Bank in Texas was closed by the OCC Friday. The failure could cost the FDIC’s Deposit Insurance Fund an estimated $23.7 million.
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All 22 banks that participated in the Federal Reserve’s stress test passed, although it was less stringent than past years.
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AI is no longer just a tool; it’s shaping banking’s future. Learn how financial institutions can harness AI to optimize operations, boost revenue, and stay ahead in an evolving industry in this webinar.
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