BankThink

U.S. Bancorp buying large custody book from MUFG Union Bank

01/06/21

U.S. Bancorp says its agreement to buy a portfolio with $320 billion of assets under management will raise its profile on the West Coast. The MUFG unit plans to reinvest proceeds from the sale in other priorities.

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Carter Bankshares in Virginia to close 24 branches

01/06/21

The company, which reported a large third-quarter loss in October, plans to sell or shutter a quarter of its locations.

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Bank CEOs calls for violence to stop in D.C.

01/06/21

JPMorgan Chase's Jamie Dimon and Citi's Michael Corbat condemned the actions of Trump supporters who stormed the halls of Congress Wednesday.

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Congressional FCU under lockdown as mob storms U.S. Capitol

01/06/21

Capitol police directed the institution to close four branches Wednesday as armed Trump supporters forced their way into the complex, and two facilities remained shuttered late in the day.

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Low premium in Boston Private deal has big investor howling

01/06/21

HoldCo Asset Management wants more details about the banking company’s pending merger with SVB Financial. The shareholder's concerns center on payouts to the seller's management team and questions about the sale process.

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Small credit unions in Muncie, Ind., plan merger

01/06/21

The combined institution will hold roughly $30 million in assets and serve about 4,000 members.

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OCC, not CFPB, should grant fintech charters, Brooks says

01/06/21

Acting Comptroller of the Currency Brian Brooks pushed back on a recommendation from a task force — appointed by Consumer Financial Protection Bureau — suggesting that Congress should give the CFPB the authority to charter and regulate fintechs.

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Banks pick apart OCC ‘fair access’ plan, but customers praise it

01/06/21

The Office of the Comptroller of the Currency’s proposal to ensure banking services are available to polarizing businesses contradicts long-standing guidance on managing reputational risk, big banks argue. But gun makers, energy firms and others say it would correct an injustice.

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After sudden CEO transition, New York Community shakes up board

01/06/21

The multifamily lender named Michael Levine as board chairman, succeeding Dominick Ciampa, who held the role for 10 years. The move comes less than a week after longtime CEO Joseph Ficalora abruptly retired and was replaced by Thomas Cangemi.

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Green Dot launches its own digital bank

01/06/21

GO2bank marks the latest effort by the prepaid card issuer and banking-as-a-service provider to deliver more traditional banking products directly to consumers. Its mobile-first account offers cash back, overdraft protection and a secured credit card to customers.

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