PENSACOLA, Fla. -- The boards of Gulf Winds FCU and Escambia County Employees CU approved a merger of the two credit unions Monday, creating one of the biggest locally owned financial institutions. The new credit union will have $330 million in assets and serve 38,000 members. Members of Escambia County ECU will vote on the combination in September by mail ballot. Plans call for the merger to be completed by year's end.
Brooke Pilant, who was at Ameriprise from 2017 to 2024, accused the firm of turning against her after she raised concerns about "unethical practices."
Bangkok-based The Siam Commercial Bank will use the New York-based bank's 24/7 clearing and tokenized deposit service in a sign that the banking industry is beginning to look past individual tokenized deposit platforms and toward interoperability.
Anthropic appoints Former Federal Reserve Chair Ben Bernanke to its long-term benefit trust, JPMorganChase signs a multiyear agreement to be the official jersey patch and banking partner of the Dallas Mavericks, Brazil-based Nubank receives full regulatory approval to open Nu Mexico, and more in this week's banking news roundup.
The bill, which passed with wide bipartisan support, will become law at midnight if President Donald Trump doesn't veto it.
A federal judge has put on hold a plan for mass layoffs at the Consumer Financial Protection Bureau until a new, permanent director is confirmed by the Senate. The judge's order ratifies an agreement on the issue between the CFPB and its union.
The Federal Reserve's semiannual monetary policy report — released just days ahead of Fed Chair Kevin Warsh's inaugural testimony to Congress in his new role — highlights rising inflation and capital investment-driven economic growth.
