SYRACUSE, N.Y. – Fast-growing Empower FCU has been approved by NCUA to acquire Telco FCU, based in nearby Elmira, N.Y., its third merger in the past two years.
The deal will marry two telephone employees credit unions creating an $810 million credit union, serving more than 85,000 members.
Telco reported a loss of $2.3 million for 2008, and $22 million in assets and net worth of just 3.3% at mid-year 2009.
Sens. Thom Tillis, R-N.C., and Angela Alsobrooks, D-Md., said that they "agree to disagree" with bank lobbyists on their objections to their newly released stablecoin-yield provision.
The GSEs' financials are strong but odds are against a short-term change to conservatorship that would give stockholders access to their profits, Mizuho said.
Brian Moynihan will continue to wear two hats, thanks to the support of almost 70% of Bank of America's shareholders.
The Justice Department retreated from its plan to appeal a judge's ruling blocking grand jury subpoenas in the Powell probe, opting instead for a softer legal maneuver that keeps the investigation's future uncertain.
The company is officially releasing a digital asset product that it first announced back in October.
The Canadian bank is using machine learning to analyze customers' payments and provide recommendations to salespeople.
