November 5 – SunTrust Banks Inc., Atlanta, has named Scott Hotham to lead its Retail Investments and Premier Banking units. In this newly-created role that consolidates leadership of the two teams, Hotham will report to Brad Dinsmore, head of Consumer Banking, and oversee the bank’s financial advisors, premier bankers and sales teams delivering investments, products and services to mass affluent clients.
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Feb. 10 – The Electronic Transactions Association (ETA), the global trade association of the payments technology industry, has announced the next step in its continued expansion of government relations activities with the hiring of seasoned financial industry and government affairs professional Scott Talbott as the association’s new Senior Vice President of Government Affairs. In this position, Talbott will be responsible for developing and executing ETA’s federal and state legislative and regulatory strategies on behalf of ETA’s more than 500 member companies.
April 8 – Gold Canyon Bank, Gold Canyon, Ariz., has been closed by the Arizona Department of Financial Institutions, which appointed the FDIC as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Scottsdale Bank, National Association, Scottsdale, Ariz., to assume all of the deposits of Gold Canyon Bank.
July 21 – Bank of Scottsdale, an independent community bank with a hometown style, is now being formed to serve local Scottsdale businesses and residents from its Hilton Village Office Park location on McDonald and Scottsdale roads. The bank’s management team of proven executives with more than 70 years combined banking knowledge will bring local focus and banking experience to a market that is receiving continually deteriorating customer service from larger, impersonal financial institutions.
November 16 – B2 Payment Solutions Inc. (B2) and Underwriters Laboratory’s (UL) have announced that Chase Commerce Solutions purchased an additional EMV certification solution to help businesses streamline the certification process to accept chip credit and debit cards at the point of sale.
By Toni Lapp
The EMV liability shift is upon us, and as of Oct. 1, retailers will be liable for fraudulent transactions if an EMV chip card is presented, but the point-of-sale equipment has not been updated. Yet by many accounts, most Americans do not even know what an EMV chip card is or how it provides enhanced security over magnetic stripe cards. Of those who are aware of the new cards, one survey reported that the majority (53 percent) had not yet received replacement cards.
But one segment of the population is keenly aware of the EMV technology: fraudsters. (more…)
October 8 – The U.S. House of Representatives has unanimously passed (411-0) legislation to ease the regulatory burden on community banks by allowing well-managed banks with under $1 billion in total assets to be eligible for an 18-month bank examination cycle instead of the current 12-month cycle. (more…)
September 8 – Change is coming to big financial institutions as financial technology startups fill the market with new technologies. To feed this influx, Plug and Play’s FinTech Platform of Innovation has accepted 21 startups for its second batch and is partnering with U.S. Bank. A leader in financial service innovation, U.S. Bank has signed on as a sponsor to get to know and possibly collaborate with startups in the FinTech, IoT, Retail, and Hospitality/Travel sectors.