The New York-based institution tapped the former Republic First CEO to help oversee its transformation from a predominantly multifamily lender into business bank.
The payments company, which is unifying parts of its operation to deepen its reach with consumers and businesses, saw its stock fall more than 10% after reporting mixed earnings, though analysts are more bullish on the company's future.
The top five banks in this list closed a net total of 518 branches in 2024.
By enabling consumers to link multiple payment options together, the card network can counter similar moves by rival Visa and fintechs such as Curve.
Federal Reserve Vice Chair for Supervision Michael Barr urged the Trump administration to continue reforms initiated under Biden and emphasized the importance of keeping the central bank apolitical.
Letitia James and 22 other attorneys general have filed an amicus brief in a Maryland case challenging the dissolution of the consumer protection agency.
