DENVER - (04/08/05) -- State and federal regulators haveapproved the merger of DPS CU and Safeway Rocky Mountain FCU,creating an institution with almost $725 million in assets andserving 56,000 members. The merger, creating the state'sthird-largest credit union, only awaits a member vote by SRMFCU,which is scheduled for June. As a state charter, DPS CU does notrequire member approval.
Federal Reserve Vice Chair Philip Jefferson said in a speech Tuesday that despite positive employment readings in recent months, he remains concerned that an economic shock could still threaten the labor market.
Santander U.S. and Webster Financial are doing integration work in advance of their pending merger, including naming business-line leaders, the banks said in separate notes.
The FDIC board voted unanimously to issue a proposal putting a rebuttable ban on bank-issuers paying yield on stablecoins, another narrowing AML requirements and a third prohibiting examiners using reputational risk in exams, outside of operational or financial risks.
The neobank is rolling out Chime Prime, a new membership service that rewards customers for making Chime their primary bank account.
The Minneapolis-based company plans to leverage the arrangement to draw more attention to its growing list of national business lines, transcending its regional reputation.
Swiss banking giant UBS tried to get a federal court to reject new allegations that Credit Suisse, which UBS acquired in 2023, had concealed Nazi-linked assets.
