SoFi Technologies, Inc. has announced its financial results for the first quarter of 2024, showcasing impressive growth and profitability. The company reported a net revenue of $645 million and a net income of $88 million, marking its second consecutive quarter of GAAP profitability.According to the report, the 54% combined revenue growth in the tech platform and financial services segments drove a 26% growth in total adjusted net revenue. The management team at SoFi also raised the guidance for the fiscal year 2024."SoFi is a member-centric, one-stop shop for digital...
Los Angeles World Airports (LAWA) has made a significant stride in promoting inclusivity and diversity in its contracting model for capital improvement projects. The latest Multiple Award Task Order Contract (MATOC) approved by the Los Angeles City Council represents nearly $1 billion in contracting value and has set new standards for inclusivity.Karim Webb, President of the Board of Airport Commissioners, expressed his satisfaction with the decision, stating, "After supporting this game-changing MATOC with my fellow BOAC members, I commend the City on its unanimous...
CARMEL, Ind., April 29, 2024 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) announced its first-quarter results for 2024, showcasing a significant improvement over the previous year. The company reported net income of $112.3 million, or $1.01 per diluted share, compared to a net loss of $0.8 million, or $0.01 per diluted share, in the first quarter of 2023.Gary C. Bhojwani, CEO of CNO Financial Group, expressed satisfaction with the quarterly performance, stating, "First quarter results were among the best operating metrics we've delivered in the past several years...
Billd has released its 2024 National Subcontractor Market Report, revealing significant insights into the financial state of subcontractors in the commercial construction industry. The report, based on a survey of nearly 700 professionals, highlights a notable disparity between subcontractors who account for working capital costs and those who do not. According to the findings, subcontractors who consider these costs achieve an average of 11% higher profits compared to their peers.
On the final day of America’s Credit Unions’ 2024 HR & Organizational Development Council Conference in St. Pete Beach, Fla., industry professionals shared valuable insights and advice for HR leaders. The panel, moderated by Coastal Credit Union Chief Administrative Officer Mia Perez, featured leaders from various credit unions who highlighted key aspects for HR leaders to consider.Christine Messer, Chief Financial Officer at Heritage Family Credit Union, emphasized the importance of leadership skills in the finance sector, stating, “I can train anybody to do accounting...
Washington, D.C. (April 29, 2024) - The Independent Community Bankers of America (ICBA) commenced the 2024 ICBA Capital Summit in Washington with the unveiling of new polling data that reveals significant public backing for community banker perspectives on critical issues. According to ICBA President and CEO Rebeca Romero Rainey, Americans across the nation align with community bankers' stances on essential policy matters.The ICBA-commissioned polling, executed by Morning Consult, highlighted several key findings. The data indicated that 70% of Americans believe that...
Washington, D.C. (April 25, 2024) - The Independent Community Bankers of America (ICBA) has unveiled its legislative and regulatory policy objectives for 2024, setting the stage for the upcoming ICBA Capital Summit from April 28 to May 1. The resolutions, developed and endorsed by ICBA volunteer community bankers, will shape the organization's advocacy efforts in the year ahead, aligning with its core mission of fostering an environment conducive to the success of community banks.In a statement, ICBA Chairman Lucas White, who also serves as the president of The Fountain...
The Supreme Court is expected to rule in the next month or two on CFPB v. CFSA, a case challenging the CFPB’s independent funding mechanism through the Federal Reserve. AFSA submitted an amicus brief in support of CFSA.When Congress first met on March 4, 1789, one of the first items of business was to fulfill the requirements of Article III, section 1, of the Constitution. John Jay of New York took the oath as the first Chief Justice on October 19, 1789. The Court's journey from its early days in the Merchants Exchange Building in New York City to its current home on...
ICBA President and CEO Rebeca Romero Rainey expressed support for proposals to decrease deposit insurance assessments for community banks, stating, "With the Deposit Insurance Fund reserve ratio on track to reach the statutory minimum two years ahead of schedule, ICBA strongly supports proposals to decrease deposit insurance assessments for the nation’s community banks."Rainey referenced remarks made by Acting Comptroller of the Currency Michael Hsu and Consumer Financial Protection Bureau Director Rohit Chopra at the FDIC board meeting, highlighting the importance of...
The American Financial Services Association (AFSA) has recently voiced its support for Senate Bill 1076 in California, emphasizing the importance of enhancing consumer privacy rights in the state. In a joint comment letter to the California Senate Judiciary Committee, AFSA highlighted the need to broaden the scope of information provided by registered data brokers and establish mechanisms to protect consumers' privacy.According to AFSA, SB 1076 plays a crucial role in ensuring that consumers have the ability to request the deletion of their data from all registered...
The Andy Trovillion Scholarship, funded by the Association of Military Banks of America (AMBA), aims to support individuals who share Andy's passion for military banking and education. The scholarship honors the legacy of Raleigh A. "Andy" Trovillion, a former GSB faculty member and AMBA board chairman, known for his dedication to the field.According to the AMBA, the scholarship provides $1,500 per session, totaling $4,500, towards Graduate School of Banking (GSB) tuition for each of the three resident sessions. The scholarship is open to various groups, including active...
Talos Accelerates Expansion of its Portfolio Management System with Acquisition of CloudwallApr 23, 2024NEW YORK, April 23, 2024 /PRNewswire/ -- Talos, the premier provider of institutional technology for trading digital assets, has announced the acquisition of Cloudwall, a developer of sophisticated digital asset risk technology. The move aims to bolster Talos's capabilities with sophisticated risk management technology critical for the institutional adoption of digital assets.Anton Katz, CEO and Co-Founder of Talos, expressed the significance of the acquisition,...
In a moving keynote address at America’s Credit Unions’ 2024 HR & Organizational Development Council Conference in St. Pete Beach, Fla., Amy Downs, the president and CEO of Allegiance Credit Union, shared her remarkable journey of resilience and transformation following the tragic 1995 bombing of the Alfred P. Murrah Federal Building in Oklahoma City.Downs, who was one of the last individuals rescued from the rubble and spent eight days in the hospital, emphasized the profound realization she had during that harrowing experience, stating, "I was about to die and realized...
US Army Green Beret, gmcgurn@afsamail.org, vividly recalls a pivotal moment during his service in Afghanistan when a farmer decided to defend his home against Taliban attackers. Reflecting on the experience, gmcgurn@afsamail.org describes the transformation he witnessed in Afghan villagers, who went from a state of "inescapable shock" to actively standing up against their oppressors.Describing the unique approach of Green Berets in conflict zones, gmcgurn@afsamail.org explains how they immerse themselves in local cultures and work with indigenous populations to achieve...
Mia Perez, the chief administrative officer at Coastal Credit Union, emphasized the importance of recognizing and addressing skill gaps in the workforce during her speech at America’s Credit Unions’ 2024 HR & Organizational Development Council Conference. Perez highlighted the necessity for HR professionals to guide employees in bridging these gaps to advance their careers.Perez stressed the need for individuals to acknowledge their skill deficiencies, stating, “just because one is a really good ‘x’ doesn’t mean they’re going to be a really good ‘y.’ The gap between where...
Data analytics has found its way into many aspects of society—and human resources (HR) is no exception. HR leaders are using analytics to track turnover, performance, development, engagement, salaries, and more.“It’s important to start expanding HR data analytics,” stated Kathy Menditto, vice president of human resources at Buckeye State Credit Union in Akron, Ohio. Menditto was speaking at America’s Credit Unions’ 2024 HR & Organizational Development Council Conference in St. Pete Beach, Fla. She emphasized the significance of data analytics, noting that "Your C-Suite...
Senior Vice President of People Development Andria McCollough from Truity Credit Union in Bartlesville, Okla., highlighted the positive impact of involving employees in project management teams. McCollough noted a 63% better retention rate for staff involved in project teams compared to those who were not, emphasizing the success story of engaging people in the process. The credit union has run 106 teams since 2008, with 254 employees participating and gaining valuable skills that have increased their engagement and desire to stay with the organization.At America’s Credit...
The American Fintech Council (AFC) has voiced concerns over the Federal Deposit Insurance Corporation's (FDIC) approach to innovation in financial services. The AFC, representing responsible fintech companies and major Banking-as-a-Service banks, has sent a letter to the FDIC addressing what it perceives as a lack of communication and an adverse stance towards innovation.
Armed with gloves, grabbers, and garbage bags, credit union leaders hit St. Pete Beach Sunday morning in Florida to participate in a giveback event. The initiative aimed at cleaning up the beach and contributing to environmental conservation efforts.The event, which marked the commencement of the four-day conference hosted by America’s Credit Unions, saw participants collecting 300 pounds of garbage from the area outside the TradeWinds Islands Resorts. Items removed included a variety of debris such as sandals, towels, cans, cups, napkins, straws, squirt guns, broken...