RAPID CITY, S.D. - (06/07/05) -- Black Hills FCU said it purchasedthe former Spiegel call center building here and plans to move itsaccounting, computer, human resources and marketing departments, aswell as the executive offices and a small retail branch, into thefacility. The $525-million credit union has been outgrowing itscurrent facility, but it also isn't quite large enough to use allof the 43,000 square feet in the former Spiegel building, and isseeking tenants for the space. At one point Spiegel had 500employees working at the site, before closing it in 2002 as part ofa bankruptcy.
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The president and his allies have stepped up their verbal attacks on the Federal Reserve and its chairman in recent weeks, and while the tough talk has not changed policy, it has sent a clear message to the financial sector.
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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.
July 2 -
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.
July 2 -
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.
July 2 -
Three bank trade associations recommended phasing out paper checks to reduce government payment fraud in a joint statement submitted to the U.S. Treasury.
July 2 -
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.
July 2