BROCKTON, Mass. - (02/28/05) -- HarborOne CU, known until last yearas Brockton CU, is poised to move into its new headquartersbuilding, a four-story, 75,000 square-foot facility just outsidethe downtown. The new headquarters will house as many as 200 of the$1.2 million credit union, the state's second largest. The newoffices will allow the credit union to consolidate its operationsin nearby Randolph, acquired through a merger a few years ago ofRandolph CU. Credit union officials have not decided what to dowith their current headquarters.
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Backed by tech billionaires, the crypto-focused digital startup bank's timely application reflects the current administration's openness to new tech-driven banking models — and raises concerns about regulatory impartiality, considering its backers' political ties.
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The application follows on the heels of Circle and Wise, as crypto and payment companies seek crypto custody approval and direct access to the Federal Reserve payment system.
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The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.
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Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
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Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.
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A federal judge in New York has rejected Huawei's effort to toss charges alleging bank fraud, sanctions violations and trade secrets theft.
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