Currency

Synapse Expands Policy & Regulatory Advisory Board

Retrieved on: 
Tuesday, May 23, 2023

Synapse Financial Technologies, Inc., a leading embedded finance platform that increases access to best-in-class financial products, today announced the appointment of four new members to its Policy & Regulatory Advisory Board.

Key Points: 
  • Synapse Financial Technologies, Inc., a leading embedded finance platform that increases access to best-in-class financial products, today announced the appointment of four new members to its Policy & Regulatory Advisory Board.
  • These latest additions to the Board are directly linked to the Company’s broader vision to build an industry-leading platform informed by policy, regulatory, and compliance considerations.
  • “We are thrilled to welcome four new members to our Regulatory Advisory Board, all of whom bring deep expertise in financial regulation, governance, and regulatory strategy and will help us work effectively with policymakers and regulators,” said Synapse CEO and co-founder Sankaet Pathak.
  • “Synapse remains steadfast in its mission to deliver accessible, world-class, compliant products, and will benefit from the guidance and oversight of our new Board members.”
    Alexandra Steinberg Barrage will serve as Counsel to the Advisory Board.

VF Corporation Reports In-Line Fourth Quarter Revenue and Earnings, Declares Dividend of $0.30 Per Share, and Issues Fiscal 2024 Outlook

Retrieved on: 
Tuesday, May 23, 2023

VF returned approximately $117 million of cash to shareholders through dividends during the quarter and $703 million of cash to shareholders through dividends during the fiscal year.

Key Points: 
  • VF returned approximately $117 million of cash to shareholders through dividends during the quarter and $703 million of cash to shareholders through dividends during the fiscal year.
  • VF will host its fourth quarter fiscal 2023 conference call beginning at 4:30 p.m. Eastern Time today.
  • For those unable to listen to the live broadcast, an archived version will be available at the same location.
  • A presentation on fourth quarter fiscal 2023 results will be available at ir.vfc.com today before the conference call and will be archived at the same location.

Entwistle & Cappucci LLP and Saxena White P.A. File a Securities Class Action Complaint Against Toronto-Dominion Bank

Retrieved on: 
Monday, May 22, 2023

Entwistle & Cappucci LLP (“Entwistle & Cappucci”) and Saxena White P.A.

Key Points: 
  • Entwistle & Cappucci LLP (“Entwistle & Cappucci”) and Saxena White P.A.
  • Indeed, according to a report published by The Wall Street Journal, in “recent years,” TD Bank only “flagged 28 customer transactions” as suspicious.
  • The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
  • A copy of the complaint may be found on Entwistle & Cappucci’s and Saxena White’s respective websites below.

Country's Top Banking Regulators Celebrate Growth of National Safe Banking Partnership

Retrieved on: 
Tuesday, May 23, 2023

WASHINGTON, May 23, 2023 /PRNewswire/ -- Today at the largest conference in the banking access field, keynote addresses by Federal Deposit Insurance Corporation (FDIC) Chairman Martin J. Gruenberg and Office of the Comptroller of the Currency's (OCC's) Acting Comptroller Michael J. Hsu – two of the nation's top federal banking regulatory agencies – highlighted Bank On movement progress. The Cities for Financial Empowerment Fund (CFE Fund) hosted the 2023 Bank On National Conference at the National Press Club in Washington, DC. There are now over 375 Bank On nationally certified accounts, offered by banks and credit unions representing over 60% of the domestic deposit market; more than half (53%) of all US bank branches offer a Bank On certified account. Federal and state agencies, ranging from the FDIC to the Internal Revenue Service to state Departments of Labor, are pointing consumers to Bank On accounts to receive payments, as are local programs across the country. There are 100 local Bank On coalitions working to advance this national movement, including an increasing number of statewide coalitions.

Key Points: 
  • The Cities for Financial Empowerment Fund (CFE Fund) hosted the 2023 Bank On National Conference at the National Press Club in Washington, DC.
  • There are 100 local Bank On coalitions working to advance this national movement, including an increasing number of statewide coalitions.
  • With national unbanked rates at their lowest numbers ever recorded, we know our joint efforts to move the market towards safe banking for everyone literally is moving the needle on a critical national anti-poverty priority."
  • The FDIC's latest 2021 National Survey of Unbanked and Underbanked Households found that US unbanked rates are at the lowest recorded level ever.

FHN Alert: Monsey Law Firm of Wohl & Fruchter LLP Investigating First Horizon Corporation and The Toronto-Dominion Bank for Potential Securities Law Violations

Retrieved on: 
Tuesday, May 9, 2023

On May 31, 2022, FHN announced that its stockholders had approved the Transaction.

Key Points: 
  • On May 31, 2022, FHN announced that its stockholders had approved the Transaction.
  • On February 9, 2023, FHN and TD Bank announced that they had mutually agreed to extend the deadline to close the Transaction from February 27, 2023, to May 27, 2023.
  • The announcement indicated that approvals from regulatory authorities in the United States and Canada were required to close the Transaction.
  • On April 12, 2023, TD Bank CEO Bharat Masrani spoke at a luncheon sponsored by Bank of America.

Monster Beverage Reports 2023 First Quarter Results

Retrieved on: 
Thursday, May 4, 2023

CORONA, Calif., May 04, 2023 (GLOBE NEWSWIRE) -- Monster Beverage Corporation (NASDAQ: MNST) today reported financial results for the three-months ended March 31, 2023.

Key Points: 
  • Net sales on a foreign currency adjusted basis for the Monster Energy® Drinks segment increased 14.6 percent in the 2023 first quarter.
  • Operating expenses for the 2023 first quarter were $412.8 million, compared with $377.2 million in the 2022 first quarter.
  • Stock-based compensation was $16.1 million for the 2023 first quarter, compared with $16.3 million in the 2022 first quarter.
  • In the United States, we launched Monster Energy® Zero Sugar nationally at retail in January, as well as Monster Energy® Ultra Strawberry Dreams, Monster® (stylized) Reserve Kiwi Strawberry, Monster Energy® Nitro Cosmic Peach and Java Monster® Caffe Latte in the quarter.

Troutman Pepper Ramps Up White Collar + Government Investigations Practice in North Carolina with Partner Addition

Retrieved on: 
Tuesday, May 2, 2023

CHARLOTTE, N.C., May 2, 2023 /PRNewswire/ -- Matthew "Matt" Orso, a white collar litigation attorney who has significant experience counseling clients facing government investigations, has joined Troutman Pepper's nationally recognized White Collar + Government Investigations Practice Group as a partner in Charlotte. He previously served as co-lead of the Bank Defense and Counseling team at McGuireWoods.

Key Points: 
  • Matthew Orso, Known for Representing Major Financial Institutions in High-Profile Enforcement Matters, Joins Firm
    CHARLOTTE, N.C., May 2, 2023 /PRNewswire/ -- Matthew "Matt" Orso , a white collar litigation attorney who has significant experience counseling clients facing government investigations, has joined Troutman Pepper's nationally recognized White Collar + Government Investigations Practice Group as a partner in Charlotte.
  • His addition helps to expand our white collar and government investigations capabilities in North Carolina," added Jason Evans, managing partner of Troutman Pepper's Charlotte office.
  • "I am excited to join Troutman Pepper's sophisticated White Collar + Government Investigations team and to build upon its investigations and litigation offerings," Orso said.
  • Troutman Pepper's White Collar + Government Investigations Practice Group includes former government prosecutors, in-house compliance counsel, and seasoned white collar defense attorneys who proactively resolve sensitive government investigations and proceedings.

Sterling Bancorp Reports First Quarter 2023 Financial Results

Retrieved on: 
Monday, May 1, 2023

Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B.

Key Points: 
  • Sterling Bancorp, Inc. (NASDAQ: SBT) (“Sterling” or the “Company”), the holding company of Sterling Bank and Trust, F.S.B.
  • (the “Bank”), today reported its unaudited financial results for the first quarter ended March 31, 2023.
  • “Sterling’s first quarter of 2023 results continue the very deliberate remediation and repositioning begun in 2020.
  • Consequently, margin pressures are being witnessed here and throughout the industry.”
    Management will host a conference call on Monday, May 1, 2023 at 11:00 a.m. Eastern Time to discuss the Company’s unaudited financial results for the quarter ended March 31, 2023.

Century Next Financial Corporation Reports Results for 1st Quarter 2023

Retrieved on: 
Wednesday, April 26, 2023

RUSTON, La., April 26, 2023 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $696 million in assets, today announced financial results for the 1st quarter ended March 31, 2023.

Key Points: 
  • RUSTON, La., April 26, 2023 (GLOBE NEWSWIRE) -- Century Next Financial Corporation (the “Company”) (OTCQX: CTUY), the holding company of Century Next Bank, with $696 million in assets, today announced financial results for the 1st quarter ended March 31, 2023.
  • Total net loans at March 31, 2023 were $563.4 million compared to $537.9 million at December 31, 2022.
  • Deposit growth was strong for the quarter ended March 31, 2023 as total deposits increased by $50.9 million or 9.1% to $611.3 million at March 31, 2023 compared to $560.4 million at December 31, 2022.
  • Century Next Financial Corporation is the holding company for Century Next Bank (the “Bank”) which conducts business from its main office in Ruston, Louisiana.

Synchrony Joins Operation HOPE's National 'Financial Literacy for All' Initiative

Retrieved on: 
Thursday, April 27, 2023

STAMFORD, Conn., April 27, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, today announced it has become a member company of Financial Literacy for All (FL4ALL) – a national initiative dedicated to embedding financial literacy into American culture.

Key Points: 
  • STAMFORD, Conn., April 27, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, today announced it has become a member company of Financial Literacy for All (FL4ALL) – a national initiative dedicated to embedding financial literacy into American culture.
  • Alongside member organizations, Synchrony will continue to champion financial resiliency, literacy, and capability.
  • America Saves Week: Synchrony participates in America Saves Week, an initiative of the nonprofit Consumer Federation of America.
  • Partnership with National Foundation for Credit Counseling: Synchrony continues its longtime partnership with the National Foundation for Credit Counseling (NFCC).