ATLANTA - (05/11/06) Home repairs giant Home Depotannounced Wednesday it has agreed to acquire an Industrial LoanCompany charter, a state chartered bank, the latest non-financialcompany to enter the banking business. The deal comes as thecontroversy over Wal-Marts application continues to festerwhile the FDIC considers the retail giants bid for an ILCbank charter. Home Depot said it will use the bank to providefinancing for contractors, homeowners engaged in remodeling andother large-scale purchasers. The deal calls for Home Depot toacquire the ILC charter of EnerBank, which offers consumers 100%financing on home remodeling.
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As AI and digital assets become mainstream, banks are spotting new opportunities to integrate payments with other activities.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
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A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
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Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
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Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
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In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3