MONTGOMERY, Ala. – Members of MAX FCU narrowly approved a conversion to state charter last week in order to serve a broader field of membership. The charter switch, approved by a 52.7% to 47.3% vote, will enable the state’s fourth-largest credit union to expand beyond metropolitan Montgomery. The state charter will, however, require the $700 million credit union to pay about $700,000 a year for the state’s 6.5% excise tax.
Mortgage industry participants say Federal Housing Finance Agency Director Bill Pulte's new role as acting director of national intelligence could imperil progress on a potential initial public offering of Fannie Mae and Freddie Mac.
The bank tech provider sold off its U.S. mid-market banking business, including a core used by hundreds of U.S. banks, to a branch of Constellation Software.
The consumer intelligence company alleged that Chime willfully misused J.D. Power's name and trademark in its marketing materials. The neobank said it would "vigorously" defend its position.
The domestic focus of most instant settlement rails is evolving toward cross-border, creating an opportunity for the bank to approach corporate clients.
Members of the House Financial Services Committee pressed prudential bank and credit union regulators about the potential risks of bank lending to private credit firms in a hearing Thursday.
The megabank promoted Margo Pilic, CEO Jane Fraser's chief of staff since 2021, to a new job that combines bank strategy with investor communications. The promotion was one of several leadership changes announced by the bank.
