In Brief: 2 Midwest Nonbanks File for Thrift Status

January 04, 1999, 2:00 a.m. EST 1 Min Read

the list of nonbanks that have applied for thrift charters. Conseco, of Carmel, Ind., applied Dec. 23 to convert its South Dakota- chartered credit card bank, Green Tree Retail Services Bank, into a thrift. Conseco sells health, annuity, life, and medical insurance. It acquired manufactured-housing lender Green Tree Financial Corp. last year. The thrift unit would add mortgage lending and deposit accounts to the services that Conseco offers, according to an application filed with the Office of Thrift Supervision. Everen Capital Corp., a Chicago securities firm, applied Dec. 22 to launch Everen Federal Savings Bank. The thrift would offer Everen's existing clients residential mortgages, small-business loans, and student loans, according to the OTS application. The two applications bring to 47 the number of nonbanks with requests for thrifts pending with the OTS. -David Harrison

For reprint and licensing requests for this article, click here.

TRENDING

Regulation and compliance

Pathward Bank to pay more than $700,000 for compliance failure

The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.

By Catherine Leffert

1h ago
Earnings

Citizens reports fast progress in building its private bank

The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.

By Allissa Kline

2h ago
Earnings

'Higher-for-longer' hits U.S. Bancorp as funding costs stay elevated

After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.

By John Reosti

4h ago

MORE FROM AMERICAN BANKER

Regulation and compliance

Pathward Bank to pay more than $700,000 for compliance failure

The Office of the Attorney General in New York says the bank violated the state's Exempt Income Protection Act, illegally transferring customers' money to debt collectors.

By Catherine Leffert

1h ago
Earnings

Citizens reports fast progress in building its private bank

The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.

By Allissa Kline

2h ago
Earnings

'Higher-for-longer' hits U.S. Bancorp as funding costs stay elevated

After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.

By John Reosti

4h ago
Regulation and compliance

CFPB makes structural changes after expanding authority over nonbanks

The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.

By Kate Berry

5h ago
Consumer banking

First Horizon bucks trend as deposit costs slow

Rising deposit costs have plagued banks in general, and the Tennessee bank had to pay up to bolster liquidity after its failed merger with TD. But First Horizon retained customers in the first quarter while not paying them the special rates they got last year.

By Polo Rocha

5h ago
Payments

Klarna turns a BNPL track record into a creditworthiness benchmark

U.S. customers who have previously used Sweden-based Klarna's buy now/pay later financing — and paid off their loans in full — will be prequalified for interest-bearing loans through a new version of the Klarna Visa card rolling out later this year.

By Kate Fitzgerald

5h ago