THORNDALE, Pa. - (11/30/04) -- Citadel FCU said it has agreed tocombine with Atlantic CU to create the state's third largest creditunion with more than $950 million in assets. The new institutionwill continue with the Citadel name and have more than 300employees, while serving more than 110,000 members. The merger isscheduled to be completed in early 2005.
The regulator says its prior amicus brief, which cited the Fair Debt Collection Practices Act and sided with borrowers, was no longer valid.
Agency lawyers called the rule, which was almost a decade in the making, "unlawful" in a court filing.
A recent deal involving a troubled Texas bank shows that even the most lopsided depository can find an exit.
The card issuing fintech has worked for years to expand its business outside of Block. Mike Milotich, who in February became the third person to hold the fintech's top job in as many years, has been tasked to do just that.
As the class action lawsuit settlement industry became overwhelmed with fraud, a bank and a fraud scoring company teamed up to fight back.
Federal Reserve Gov. Lisa Cook said in a speech Friday that the market's response to recent volatility shows resilience, but more study is needed about the financial stability implications of business relationships between banks and nonbanks.
