PENSACOLA, Fla.-A local developer closed a loan deal with two local credit unions and a Tampa bank for $38 million to build a 206-room Holiday Inn on Pensacola Beach.
Under the deal, Both Navy Federal Credit Union and PenAir Federal Credit Union will provide $10 million and Superior Bank of Tampa will pitch in $18 million.
Project developer Julian MacQueen said he expects the project to break ground some time in August.
New York's Arrow Financial and Pennsylvania's First Commonwealth Financial were seeing their insurance revenue grow before they announced agency purchases this week. Prior to 2025, banks were shedding their insurance agencies.
The AI company has debuted ChatGPT for Financial Services, an enterprise tool that may threaten the role of junior analysts at investment banks.
The USA Patriot Act passed on an overwhelming bipartisan basis in the wake of the 9/11 attacks, overhauling banks' involvement in anti-money-laundering efforts.
The institution tested USBDC in an international payment ahead of a wider rollout and amid its work on the cross-industry Open Standard stablecoin project.
The global rise of online gambling has created a range of new money-laundering risks for banks and other companies, according to the Financial Action Task Force, an international standard-setting organization.
Federal banking regulators say as many as 188 community banks may qualify for the extended exam cycle following implementation of the measure, which is required as part of the recently passed housing bill.
