ATLANTA – Subprime consumer finance company CompuCredit Corp. announced Friday it has acquired ACC Consumer Finance and the $195 million auto loan portfolio the San Diego company was servicing for Patelco CU. The Patelco loans made up the vast majority of ACC’s $275 million in auto finance recievables. ACC operates in 12 states with collection centers in San Diego and Denver. Financial terms of the deal were not disclosed.
The ICBA files a suit to stop the OCC from its charter spree, and the CFTC wants to change the rules to bring prediction markets under its regulatory remit.
Former bank CEOs David Provost and Chip Reeves assumed control of Parkway Bank on Thursday. They plan to use the $3.7 billion-asset bank as a springboard for organic growth and potential M&A throughout the Midwest.
The central bank extended the deadline for comments on Regulation O by one month, to Nov. 4.
The Brazil-based digital bank, which recently launched a U.S. business, submitted an SEC filing to stop the spread of misinformation.
The bank-owned payments company has been developing an interoperable payments network that will allow banks to clear and settle tokenized deposit transactions. It's targeting an early 2027 launch for the network, and is working toward an atomic future thanks to bank demand.
More states are providing funding to community development financial institutions, which are contending with hostility from the Trump administration and challenges from high interest rates.
