Dan Ennis

Jeff Berkson, who until May served as chief risk officer at WebBank, will be the bank’s proposed CEO. The lender will be based in the Salt Lake City area and operate nationally through digital channels.

The Los Angeles lender repositioned securities into shorter-duration, higher-yielding products. It also launched the sale of $827 million in real estate and multifamily loans and retired $385 million in debt.

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter

CEO Chris Britt cited AI innovations but also a switch to smaller teams, faster movement, higher productivity and in-office work.

The regulators – absent the Federal Reserve – would limit grants banks give to “activist” community groups. Friday’s proposal would also reduce the number of banks that must collect CRA-related data.

The bank has not accused the Trump Organization of money laundering. But Capital One said the transaction patterns it identified are “among the types of activity flagged by federal banking guidance.”

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter

“For you, that means fewer layers between your product and the financial services underneath it,” Dakota CEO Ryan Bozarth said in a blog post.

The deal allows each company to use the other’s full portfolio of patents. USAA for years has sued – or threatened court action against – banks it says infringe on its remote deposit capture patents.

Among stipulations of the approval, the clearing bank must launch with $73,660,000 or more in capital funds and maintain a 10% or greater leverage ratio throughout its first three years.