ALBANY, N.Y. – The board of Excelsior CU has approved a bonus dividend and interest refund to members in the amount of $750,000, to be paid prior to the $90 million credit union’s merger with Capital Communications FCU. Payments will be posted to Excelsior members’ regular share draft accounts in mid-September. The pre-merger payout will be divided equally between savers and borrowers. This is the fourth merger for $560 million CapCom in the past three years.
The $736 million Orange County bank had faced a smattering of enforcement actions over the years, including for concentration risks, governance issues and questionable insider transactions.
As the U.N. renews its call for $1.3 trillion a year in climate finance, four leaders in climate finance say the biggest question for advisors is where that money goes.
The National Association of Insurance Commissioners responded to a query from Sen. Elizabeth Warren about risks to policyholders stemming from private-equity ownership of life insurers.
The platform had a lawsuit filed against it by New York officials this week as the latest in a series of cases against prediction markets on the state level.
The Canadian bank's U.S. operations experienced challenges following a large acquisition on the West Coast. But the bank is now making good progress, according to a top BMO executive.
As AI threatens firms' lucrative business managing uninvested cash, Schwab gives its RIA partners a new way to keep clients' cash holdings sticky.
