WARRENVILLE, Ill. - (01/24/06) The boards of Mid-StatesCorporate FCU and Empire Corporate FCU have approved a definitiveagreement to merge. Plans call for Joseph Herbst, president ofEmpire, to become CEO of the yet-to-be-named entity, while DavidPreter, president of Mid-States, will become president. Theheadquarters will be in the Chicago suburb of Warrenville, Ill,with operations being retained in Albany. The combination willcreate a corporate with almost $8.5 billion in assets and serving2,100 natural person credit unions, exceeded only by WesCorpFCUs $23 billion and Southwest Corporate's $9.2billion.
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Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.
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The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
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The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
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Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
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The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
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