BROOKFIELD, Wis. - (11/29/05) -- Fiserv said its Investment SupportServices unit has acquired more than 1,000 self-directed IRAaccounts with $48 million of assets from Arrowhead Trust Inc., awholly owned CUSO of Arrowhead CU. The accounts held bothtraditional investments, such as mutual funds, and alternativeinvestments, like private equity, real estate, mortgages and trustdeeds. Fiserv is the largest independent custodian that administersboth types of assets in retirement accounts, and has 320,000accounts and custodian accounts with $38 billion inassets
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Following a $60 million credit hit, the Salt Lake City bank said that it hasn't found any other related problem loans.
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The parent company of Heartland Bank and Trust plans to acquire a smaller bank based in Carlinville, Illinois. The acquisition would give the buyer added heft in Central Illinois, as well as the Chicago and St. Louis metro areas.
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Six trade groups warned the administration layoffs and funding freezes could dampen lending, threatening the administration's goal of economic growth.
October 20 -
The Boston-based bank is the second bank in three months to face pressure to sell by the activist investor group HoldCo Asset Management.
October 20 -
Comptroller of the Currency Jonathan Gould said in an interview with American Banker that his agency is looking at whether its own internal guidance may have contributed to a climate where banks feel the need to "cite everything" to avoid supervisory penalties.
October 20 -
AlumniFi, the digital banking arm of Michigan State University's official credit union, is now an official bank partner for the NCAA's Big East conference.
October 20