Charter conversions

Why 'WaFd'? To avoid being seen as a credit union


When Washington Federal last rebranded, it was to signal its shift from a savings and loan association to a commercial bank. This time around, it's to reflect geographic diversity and its desire to be viewed as a bank.


PNC on M&A, API call uptick, next in GSE reform: Top stories of the week


The Pittsburgh company is not interested in bank acquisitions, CEO Demchak says; why Citi, Wells, JPMorgan are seeing a spike in API calls; FHFA's Mark Calabria details next steps on GSE reform; and more from this week's most-read stories.


OCC approves Fifth Third’s conversion to national bank


The Cincinnati bank applied in May to convert its Ohio state charter amid an expansion into Texas and Colorado and the completion of its merger with MB Financial.


Mutual in Massachusetts lays groundwork for buying spree


Joseph Campanelli, CEO of Needham Bank, wants to be ready to scoop up mutuals struggling with rising costs and yield curve challenges.


Fifth Third seeks national bank charter to accelerate expansion


The Cincinnati bank wants to convert from a state charter as it expands in the Southeast and beefs up digital banking operations.


BB&T-SunTrust seek FDIC as primary federal regulator


The combined bank would be chartered in North Carolina, with the FDIC serving as its lead federal regulator, N.C. Banking Commissioner Ray Grace says. The merger partners had other options, including the Fed and the OCC.


Otting touts OCC to foreign banks seeking U.S. presence


In a speech in Japan, the comptroller of the currency urged overseas institutions to consider a “single regulatory framework” instead of applying to multiple states.


OCC puts another nail in thrift charter's coffin


A proposal to let certain thrifts operate like national banks blurs the line even further between the two institution types.


Bank of Tokyo charter switch was 'regulatory arbitrage,' Vullo says


The bank sought to evade the consequences of compliance failures including weak scrutiny of transactions that could be tied to North Korea, the N.Y. banking superintendent said in demanding access to communications between the bank and its new supervisor, the OCC.


Why have three regulators when one will do?


Citizens Financial Group plans to merge its two banking charters into a single national bank. The move would make the OCC the bank's primary regulator and eliminate the costs of dealing with the FDIC and state officials.