Ten more credit unions have sold their card portfolios, representing approximately $56 million in total outstandings. The sale was brokered by AssetExchange here. Selling their portfolios to InfiCorp were Old Hickory Credit Union, Tennessee; Sun Community FCU, California; Triangle CU, New Hampshire; Community Financial FCU, Colorado; and Guardian CU, Wisconsin. Selling their portfolio to credit union-owned TNB Card Services, Dallas, were Advantage Plus FCU, Idaho, and Windsor Locks FCU, Connecticut. Asset Exchange said the identities of three other CUs selling their cards would remain undisclosed.
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JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
June 26 -
House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
June 26 -
The global payments platform, which recently expanded to the U.S., also plans to build new autonomous finance and agentic commerce products.
June 26 -
A new lawsuit seeking class-action status alleges that FirstBank Puerto Rico knowingly facilitated Jeffrey Epstein's sex trafficking operation by failing to enforce basic anti-money-laundering and know-your-customer rules.
June 26 -
Pinnacle Financial Partners' headquarters is moving to a new 25-story office tower in Midtown Atlanta; New Jersey-based Provident Bank appoints Adriano Duarte to succeed Thomas Lyons as chief financial officer; Binance will shut down services for customers in France, Italy, Spain and Poland after the exchange withdrew its MiCA licence application in Greece; and more in this week's banking news roundup.
June 26 -
The bank is part of a trend of financial institutions trying to streamline a complicated industry that paper has dominated for years.
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