BIRMINGHAM, Ala. – APCO Employees CU broke ground last week on a new three-story office project that will triple its current office space.
The $1.8 billion credit union traded its current building for land the city of Birmingham owned within the same city block. Birmingham now owns APCO’s 33-year-old building and will lease it to the credit union until it moves.
Estimated cost of the new headquarters is $11 million.
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.
