Municipal Employees CU here said it has become the first credit union in this market to participate in the Federal Home Loan Bank of Atlanta's Affordable Housing Program for first-time homebuyers. The program helps people with low incomes purchase a first home by providing grants to help with down payments and settlement costs. The program matches every dollar the buyer contributes toward their down payments and closing costs with $3. MECU members can use the program to receive grants up to $3,000. In conjunction, MECU is offering a First Time Homebuyers Mortgage Program with a discounted APR.
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The Philadelphia-based bank's parent company, Republic First Bancshares, had been roiled by a yearslong proxy battle involving activist investors groups and its former CEO.
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The Wyoming-based digital asset bank filed paperwork to challenge last month's district court ruling, which affirmed the Federal Reserve's view about its discretion over master account applications.
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The former head of the Consumer Financial Protection Bureau resigned Friday after the troubled rollout of the Free Application for Federal Student Aid led some House Republicans to call for his resignation.
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The San Antonio-based bank said that loan growth, fueled in part by its expansion in key Texas markets, may compensate for pressure on deposits. It slashed the number of rate cuts it expects this year from five to two.
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Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
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The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.
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