Facebook’s plan to launch a cryptocurrency has raised concerns that state banking regulators may not be equipped to oversee large, international companies.
Other banks say they need to add branches to attract more deposits, but Capital One is sticking to its strategy of aggressively closing them and gathering the bulk of new deposits online.
The ban, which came to light Monday, will remain in effect until either the final disposition of Stephen Calk’s court case or until it is terminated by Comptroller Joseph Otting.
Visa, Mastercard and PayPal may have boosted the single, greatest risk they face -- that of tougher regulation -- by becoming early backers for Facebook new digital money, called Libra.
The agreement is expected to solidify a lending partnership whose status had been in doubt for more than a year. But it raised as many questions as it answered.
Freddie Mac CEO Donald Layton has joined the Harvard Joint Center for Housing Studies as a senior industry fellow focused on reform of the government-sponsored enterprises.
Dennis Zember Jr. stepped down as the Georgia bank's CEO, citing personal matters. Palmer Proctor, an executive at the recently acquired Fidelity Southern, succeeded Zember.
