AUSTIN, Tex. -- Tracor Inc., a defense electronics company, said it amended its current credit agreement, lowering loan interest rates and enabling the company to complete acquisitions more easily. Tracor's term and revolving loan interest rates were reduced 75 basis points, and interest on letters of credit facilities was lowered 100 basis points. In addition, the amended agreement permits the company to make certain acquisitions without the approval of its bank lenders.
Santander U.S. and Webster Financial are doing integration work in advance of their pending merger, including naming business-line leaders, the banks said in separate notes.
The FDIC board voted unanimously to issue a proposal putting a rebuttable ban on bank-issuers paying yield on stablecoins, another narrowing AML requirements and a third prohibiting examiners using reputational risk in exams, outside of operational or financial risks.
The neobank is rolling out Chime Prime, a new membership service that rewards customers for making Chime their primary bank account.
The Minneapolis-based company plans to leverage the arrangement to draw more attention to its growing list of national business lines, transcending its regional reputation.
Swiss banking giant UBS tried to get a federal court to reject new allegations that Credit Suisse, which UBS acquired in 2023, had concealed Nazi-linked assets.
Jamie Dimon said the revised Basel III plan still overstates risk and penalizes the largest banks.
