CHARLESTON, S.C. -- Heritage Trust FCU said it abandoned its efforts to expand into the Columbia market and sold its two branches in the city to South Carolina FCU. "Things just haven't worked out the way we wanted to," Bill Hicks, chief of marketing for the $345 million credit union, told The Credit Union Journal. Instead, Heritage Trust FCU will concentrate its efforts on its core operations at the main offices and 11 branches in the state's 'Lowcountry,' he said. Under the unusual deal, the $1.1 billion South Carolina Federal will assume all deposits and loans at the two Columbia branches.
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Beast Industries, owned by the YouTube star known as MrBeast, has acquired the Gen Z-oriented financial wellness app Step.
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The iOS technology enables payments without requiring merchants to add extra hardware. The card network is embedding the option into a broader suite of merchant technology to bolster its services strategy amid competition from Mastercard and fintechs like Block and Stripe.
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A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.
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Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.
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The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.
February 9 -
Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.
February 9





