JACKSONVILLE, Fla. - (12/20/04) -- Title insurer giant FidelityNational Financial Inc. announced last week it has agreed toacquire ClearPar LLC, a Valley Cottage, N.Y., provider of onlinesettlement systems for primary and secondary loans. Terms of thedeal were not disclosed. The acquisition comes two weeks afterFidelity announced a recapitalization plan, which included the saleof 25% of its financial outsourcing unit for $500 million and newloan agreements for $2.8 billion.
Daryl Byrd, who led Iberiabank until it was acquired by First Horizon, has assembled an investor group to acquire MC Bancshares and its subsidiary, MC Bank & Trust Co. in Morgan City, Louisiana. Byrd will become CEO.
Nine banks and lenders were impacted by the years-long, $923 million fraud enterprise, according to an indictment of top Tricolor executives. The banks were not publicly named, but JPMorganChase, Fifth Third, Barclays, Louisiana-based Origin Bancorp and Texas-based Triumph Financial have said they would take write-downs.
The National Institute of Standards and Technology's preliminary draft helps banks integrate artificial intelligence into their existing security strategies.
The regulator signed off on the transaction just two months after the banks applied to merge.
The Department of Justice wants Federal Reserve Chair Jerome Powell to state if the central bank is profitable again and can, therefore, fund the Consumer Financial Protection Bureau.
The Financial Services Forum, which represents the largest U.S. banks, formed a new 501(c)(4) advocacy group to amplify big banks' policy preferences, a move that could counter the crypto industry's growing political influence.
