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Green Dot Boots CEO
Green Dot fired CEO Dan Henry after struggles with failed acquisitions, a legal battle with Uber, and high customer turnover...
Robert Baron
October 21, 2022
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Banking News
Virtual Bank Green Dot Searches for New CEO
Green Dot fired CEO Dan Henry after struggles with failed acquisitions, a legal battle with Uber, and high customer turnover. Former CFO George Gresham, now interim CEO, shared his plans.
Enhance shareholder value and build Green Dot into one of the leading fintech companies with a digital bank.
Goldman Sachs’ Impending Marcus Split
Leadership changes and reorganization in Goldman Sachs are coming to asset management and private wealth arms of the bank. Motivations to consolidate may stem from high losses, regulatory scrutiny, and declining confidence in digital bank Marcus’ performance.
Credit Union News
Credit Unions Support Circuit Court Decision
The Consumer Financial Protection Bureau’s (CFPB) mechanism of funding was found unconstitutional by the 5th U.S. Circuit Court of Appeals. According to Jim Nussle, the CEO of the Credit Union National Association, this was the right move.
The court’s decision today is consistent with CUNA’s longstanding position that CFPB funding go through the standard appropriations process.
Credit Unions’ Success May Lead to Regulation
Today’s credit unions compete with banks and are now under new scrutiny, thanks to their success. Regulators are promising to examine regulations on the expanded offerings of credit unions, which mimic most banks.
Financial Services & Blockchain
Perspectives Towards Crypto Change at JP Morgan
JPMorgan CEO Jamie Dimon's appointment of now-bankrupt Celsius’ Aaron Iovine comes as a surprise, given Dimon’s anti-crypto history. In October 2022, Dimon called crypto assets “decentralized Ponzi schemes.”
JPMorgan moves $16 trillion around the world every day, we don’t do it in cash, it’s done digitally. If it can be done digitally with the blockchain, so be it. But it will still be a dollar cryptocurrency.
The Fed Considers a Digital Currency
The Fed went so far as to publish a 40-page report about central bank digital currency. Federal Reserve Gov. Christopher Waller spoke out against the success of a national digital currency at Harvard University.
The factors supporting the primacy of the dollar are not technological, but include the ample supply and liquid market for U.S. Treasury securities and other debt and the long-standing stability of the U.S. economy and political system.
