BankThink

CUNA Mutual Group acquires Assurant’s funeral business

03/09/21

The deal to take over the firm's prearranged funeral insurance and final expense business in the U.S. and Canada is worth approximately $1.3 billion, and marks the latest in a string of acquisitions for CUNA Mutual.

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Fears of a backlog as PPP deadline looms

03/09/21

Lenders are preparing scores of Paycheck Protection Program applications to secure approval from the Small Business Administration by March 31, but unresolved error codes continue to hinder their efforts.

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JPMorgan shutting down Chase Pay digital wallet a year after discontinuing app

03/09/21

The option to transact using Chase Pay will be removed from all merchant websites and apps by the end of the month.

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Ex-Treasury official Michael Barr all but ruled out for OCC nomination

03/09/21

Michael Barr, an Obama-era Treasury Department official, is no longer expected to be nominated to lead a regulator that oversees Wall Street’s biggest banks, according to people familiar with the matter.

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Central Valley in California starts search for new leader

03/09/21

The company has formed a special committee to find a successor for James Ford, who will retire as president and CEO next year.

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Walmart's banking bet; Fed ends three emergency funding vehicles

03/09/21

The giant retailer is betting enough has changed in the regulatory environment since 2007, when Walmart applied for an ILC; the underused programs will be allowed to expire at the end of the month.

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SoFi buying small California bank for $22.3 million

03/09/21

The acquisition of Golden Pacific Bank will accelerate the online lender’s effort to become a full-service bank.

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IC Federal’s new CEO leans into outsider status

03/09/21

Chris Hendry has served on the credit union's board but has spent his career in health care and philanthropy. He said many of his skills are easily transferable, including a focus on marketing and community engagement.

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State data privacy laws pose compliance headaches for banks

03/08/21

New measures in California and Virginia give consumers more control over their information and may prevent banks from using geolocation services or analyzing personal data without obtaining consent first — except when preempted by federal law.

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Wells Fargo targets net-zero emissions after rivals set goals

03/08/21

The bank also committed to finance $500 billion in sustainable businesses and projects by 2030.

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