WASHINGTON-Regulators shut three more banks, including $900-million Barnes Bank of Kaysville, Utah; $25-million St. Stephen State Bank in St. Stephen, Minn. and $70-million Town Community Bank and Trust, in Antioch, Ill. The three failures make a total of four so far this year, after 140 failures in 2009. There has been one credit union failure in 2010, of $37 million Kern Central CU, in Bakersfield, Calif., and 25 failures in 2009.
The Federal Reserve governor said an upcoming change to the Personal Consumption Expenditures index could show ongoing improvement in prices, building the case for leaving interest rates unchanged.
The instant payments company announced a $155 million fundraise and has filed to acquire Transact Bank, which it wants to convert into TabaPay Bank.
The federal government has largely stepped back from enforcing antidiscrimination laws in lending and housing. Under a recently passed bill, regulators in the nation's most populous state would seek to fill the void.
The Federal Reserve's Office of the Inspector General found inconsistencies in how reserve banks execute their search processes and review stock holdings for prospective directors.
RIAs who work with Charles Schwab have long worried Schwab competes with them for business. Could Vanguard's pending purchase of Altruist put Altruist RIAs in the same position?
Banks are more prone to say artificial intelligence model performance has a high level of risk than credit unions, according to new American Banker research.
