HARRISBURG, Pa. - (03/14/06) -- Belco Community CU said it haspurchased an existing building in nearby Swatara Township where itplans to move its operations center. The credit union bought theformer Waypoint Financial Corp. operations center for just over $4million and plans to move there by early 2007. Belco originallyplanned to expand its operations center downtown but expansionthere was contingent on the construction of a major parking garage,which has been put off indefinitely. The credit union received acommunity charter in July that authorizes it to serve residents inAdams, Cumberland, Dauphin, Lancaster, Lebanon, Perry or Yorkcounties.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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