FRESNO, Calif. - (11/30/04) -- First California CU, chartered in1924 as the state's first credit union, celebrated its 80thanniversary. The $71 million credit union was originally formed asthe Fresno Postal Employees CU to serve the era's financiallystrapped postal employees. In 1962, the credit union was expandedto include all federal employees. It now serves almost 13,000members.
Keweenaw Financial plans to acquire neighboring Range Financial in a transaction that would create an institution with nearly $1.7 billion of assets.
In 2024, a Honduras-born man who was buying a motorcycle was turned down for a loan. Two years later, Truist Financial is facing a discrimination lawsuit — and the plaintiff's lawyer says many lenders are vulnerable to the same accusations.
The nation's largest banks saw their aggregate capital levels decline the least since the stress testing regime was reformed in 2020. Even so, the Fed will keep stress capital buffers unchanged as it weighs structural changes to its annual capital test.
The Atlanta-based parent company of Ameris Bank plans to open a commercial banking office in Tennessee's largest city by the end of the year, as part of its organic growth strategy.
The head of client segments in Morgan Stanley's wealth division acknowledges AI could one day be the primary source of financial advice for mass affluent clients. Morgan Stanley advisors working with wealthier investors will have to up their games.
The Senate Banking Committee is slated to consider Christopher Phelen to be the chair of the Council of Economic Advisers on Thursday. Phelen has said in past academic papers that fractional reserve banking is "highly problematic."
