BIRMINGHAM, Ala. – New Hope Community Development FCU, a tiny credit union serving the impoverished west end of the city, was closed by NCUA yesterday.
The $1.2 million credit union, just 13 years old, reported negative net worth at mid-year and a $12,412 loss for the first six months and has just 900 members.
It is the sixth failure of a federally insured credit union so far this year.
The proposal is part of what SEC Chairman Paul Atkins calls his "Make IPOs Great Again" agenda.
Opportunity favors the prepared, and Cambridge Savings Bank had been saving for years to buy a nearby rival. Now, as the mutual bank announces plans to acquire First Seacoast Bank, it says it's found "the right deal at the right time."
Federal Reserve Gov. Michael Barr said Tuesday that the U.S. energy sector is more insulated from shocks than Europe's, particularly in natural gas prices. However, he warned that the war is pushing up gasoline prices, which could spill over into other parts of the economy.
If a card is immediately not easy and safe to use in an external app, consumers will quickly turn to another card, executives from Regions Bank, Pinnacle Financial Partners and Barclays warned American Banker's Payments Forum.
The payments company said payment volume increased, but net income decreased compared to 2025.
Carter Bankshares wants to widen its footprint in the Carolinas and may look to buy a bank, especially in South Carolina, where it set up a loan production office in November. The Virginia bank recently resolved a long-running dispute with a major commercial borrower.
