DEL RIO, Texas – Border FCU has signed with Fifth Third Processing Services for ATM and debit card transaction processing, ATM driving, card production and network gateway access.
The $100 million credit union has four branches and 15 ATMs along the U.S./Mexico border.
Fifth Third Processing is a joint venture between Fifth Third Bancorp of Cincinnati and Boston private equity firm Advent International.
The trio of community bank regulatory relief bills passed by the House of Representatives on Tuesday night would ease exam intensity and frequency for smaller firms; it would also expand Treasury mentorships between community banks and larger lenders.
The Federal Housing Administration put an end to pandemic-era relief last year, triggering a 28% jump in foreclosures on FHA loans in the first quarter and an expected spike in defaults ahead.
Stephen Curley, who was the chief banking officer at Phoenix-based Western Alliance, will join Maryland-based Eagle Bancorp as president and CEO in July. Eagle's current CEO previously announced plans to retire after the bank racked up big losses in office loans.
At its first-ever investor day, the Phoenix-based bank fended off questions stemming from two recently disclosed problem loans, including one that resulted in a $126 million charge-off.
The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.
Kevin Warsh's nomination to the Federal Reserve chairmanship will require a second vote, which should happen this week.
