Prosperity Bank continues its Texas tear
- Prosperity Bank agrees to buy Stellar Bank in a $2 billion deal.
- This is Prosperity’s third acquisition since July.
Public regulatory intelligence
What changed and why it matters
A source-linked regulatory intelligence feed for Texas credit union compliance and executive leadership. Use it to catch up quickly before diving into the underlying material.
Start with the clearest developments below, then open the original source material when you need the governing detail. The source remains the authority.
CISA Urges Critical Infrastructure Organizations to Take Action Against Insider Threats
- CISA urges critical infrastructure organizations, including credit unions, to take action against insider threats.
- Focus areas include improving access controls and monitoring for suspicious activities.
Zelle network expands by 15%
- The Zelle network has expanded by 15% with the addition of 337 financial institutions, mostly small community banks and credit unions. - This expansion could impact Texas credit unions as it increases competition...
Judge rejects HoldCo’s challenge of Comerica-Fifth Third deal
• A Delaware Court of Chancery judge denied HoldCo's emergency motion to stall the Comerica-Fifth Third merger.
• The court ruled that HoldCo failed to meet the high standard required to challenge the deal.
Fintech Oportun’s CEO to step down
- Raul Vazquez, CEO of Fintech Oportun, is stepping down following criticism over disastrous acquisitions that affected the company's stock price. - The departure comes months after an investor criticized the CEO for poor...
Wells Fargo, BNP Paribas bolster AI leadership
Banks are hiring AI executives to focus on technology growth; this trend may influence compliance and operational strategies for credit unions.
Requirements for Insurance
The NCUA is proposing to amend regulations related to the disclosure of nonmember account coverage under federal share insurance; this aims to reduce regulatory burden by eliminating unnecessary requirements.
Notice of Termination of Excess Insurance Coverage
- The NCUA Board is proposing to amend regulations regarding the timing of prior notice for terminating excess non-federal insurance coverage.
- This change aims to reduce regulatory burden on federally insured credit unions.
Requirements for Insurance; Maximum Borrowing Authority
- The NCUA Board proposes removing the maximum borrowing authority from its regulations for federally insured credit unions. - This change would eliminate a redundant provision and reduce regulatory burden, particularly for federally insured,...
Public Unit and Nonmember Shares
- The NCUA Board proposes removing the requirement for a written plan documenting intended use of borrowings, public units, or nonmember shares exceeding 70% of a FICU's capital and surplus. - This change aims...
Agency Information Collection for Comments Request: Proposed Collection
The NCUA is submitting an information collection request for review and clearance by the OMB; this aligns with the Paperwork Reduction Act of 1995.
Former Citi exec sues bank, alleging sexual harassment
• A former Citi executive is suing the bank for sexual harassment, manipulation, and grooming.
• The case involves the bank’s wealth chief.
U.S. Bank CEO, other Minnesota execs seek ‘de-escalation’
- CEOs of large Minnesota-based companies called for 'real solutions' in response to the second shooting death by federal immigration agents. - The article does not provide specific details on any regulatory, guidance, proposal,...
Ally taps former acting OCC chief as policy adviser
Rodney Hood, former acting OCC chief and NCUA chair, will serve as a senior policy adviser to Ally CEO Michael Rhodes; No direct regulatory changes or guidance are mentioned.
Brex CFO Erica Dorfman’s take on the Capital One deal
• Brex CFO Erica Dorfman discusses the strategic rationale and speed of the Capital One deal.
• The article provides insights into fintech transactions and boardroom decision-making.
Who Operates the Badbox 2.0 Botnet?
- Kimwolf botmasters may have gained access to the control panel of Badbox 2.0, a large China-based botnet. - The screenshot shows seven authorized users, including one that appears to be 'ABCD,' likely 'Dort.'...
SEC agrees to dismiss Gemini lawsuit
• The SEC has agreed to dismiss the lawsuit regarding Gemini Earn due to full reimbursement of investors.
• This action is not directly related to credit union operations, compliance requirements, or risk management.
Goldman to pay CEO Solomon $47M for 2025
- David Solomon will receive a $47M payout in 2025, marking his third consecutive annual raise of 20% or more.
- This likely makes him the best-compensated CEO among the six biggest U.S. banks.
Eastern Bank eschews M&A in face of investor complaint
• Eastern Bank declined an activist investor's suggestion to merge with a larger regional bank.
• The bank stated it has reached the appropriate size and scale to effectively compete on its own.
Why voice-based scams are a growing threat to banks
- Voice scams pose a significant financial risk to banks and customers, potentially costing millions in seconds.
- Phone lines remain a critical but overlooked security vulnerability for the finance industry.
How payment processing works
• Payment processing involves several steps from the point of sale to the credit union’s account.
• Security and compliance measures are critical throughout the payment process.
Dependent Care and Board Member Expense Reimbursement
- The NCUA proposes amendments to allow FCU boards to reimburse reasonable dependent care costs for volunteer officials attending board meetings. - This change aims to provide greater flexibility and family-friendly policies, reducing the...
FDIC conditionally approves Ford, GM ILC charters
- Both Ford and GM must establish their respective banks within 12 months.
- They must maintain a minimum 15% tier 1 leverage ratio after standing up the bank.
JPMorgan’s Dimon sees 10.3% pay bump to $43M
- Jamie Dimon received a 10.3% pay increase to $43M.
- The bank cited his leadership and commitment to shareholders.
Huntington doesn’t ‘need to be national to win,’ CFO says
• Concentration on specific segments and geographies is identified as the key factor in success by Huntington’s CFO.
• The Ohio-based regional credit union is doubling down on these strategies.