The $4.7-billion Empire Corporate said its members snapped up $85-million in a new Membership Capital Account (MCA) entitled "Premium MCA." Empire Corporate said it had intended to limit the offering to $50 million in the Premium MCA product, which is targeted to pay a spread of 100 basis points over the three-year Treasury rate, prior to the strong response. This transaction will settle on Oct. 1, 2003, and will be priced according to market levels on that date.
Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.
The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.
Jack Dorsey's payments company also laid off employees early in 2025 and 2024 following a self-imposed employee cap of 12,000 in November 2023.
To address a budget deficit, the state of Washington has begun taxing credit unions that buy banks. Critics say there's just one problem: The tax will deter any such acquisitions from happening.
Kohler Credit Union, Think Bank and Communication Federal Credit Union gave their onboarding and direct deposit tech an upgrade through fintech partnerships.
Some distressed companies that tapped the Federal Reserve's Main Street Lending Program say they've been crushed by the agency's hard-line stance on modifications.
