BANGOR, Maine - (11/10/04) A trial has been slated for March todetermine whether Katahdin Federal Credit Union should be paid $3.2million it loaned the previous owners of the former Great NorthernPaper Inc., which declared bankruptcy after taking out three loanstotaling $3.2 million from the CU. Great Northern had used severalproperties as collateral on the loans, but the board latertransferred those properties to Great Northerns parentcompany, Inexcon Maine.
The bank is accusing its fintech rival of racketeering for raiding its offices across nine states and stealing an untold amount of confidential information.
Mirroring the efforts of a number of larger institutions, Portland-based Northeast Bank plans to open a de novo branch in Bangor and renovate its seven existing branches.
The Brazilian digital bank is bringing its services to U.S. consumers through a partnership with Lead Bank as it awaits its own final charter approval.
Research from Cerulli Associates suggests that many RIAs have a long way to go with AI adoption while already finding possible ramifications for back-office staff.
Regulators want firms to spot where several critical functions ride on one provider, a question the department's earlier vendor guidance did not ask.
The digital asset and card-issuing firms are supplying the guts to enable transactions for cards and digital wallets, betting that Mastercard's ties to both firms will be attractive to banks, consumers and merchants.
