JACKSONVILLE, Fla. – Fidelity National Information Services said regulators have given it clearance to acquire Matavante Corp., combining the two key back-office service providers for credit unions and banks in a $3 billion stock-swap.
The deal was approved by shareholders of both companies last week.
The firms expect to close the deal in the fourth quarter.
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.
CEO Robin Vince defended the custody bank's use of artificial intelligence Monday, saying that the deployment of AI allows firms to increase their investment capacity.
