PENSACOLA, Fla. – A local developer closed a loan deal Friday with two local credit unions and a Tampa bank for $38 million to build a 206-room Holiday Inn on Pensacola Beach.
Under the deal, Both Navy FCU and PenAir FCU will provide $10 million and Superior Bank of Tampa $18 million.
Project developer Julian MacQueen said he expects the project to break ground some time in August.
The 10 winning innovations span categories from AI and payments to risk and compliance. An overall winner will be announced at American Banker's Digital Banking event on June 2.
A representative for the bank said JPMorganChase is still dedicated to venture capital investors and new businesses.
A federal judge has ordered FDATR, a now-defunct student loan debt relief provider, to pay $43 million in restitution and fees, bucking the trend of cases brought by the Biden administration-era Consumer Financial Protection Bureau being dropped.
BNY's chief commercial officer talks about AI, tariffs and her efforts to help create a leaner, meaner bank.
The Consumer Financial Protection Bureau under President Trump plans to make changes to the rule governing consumer financial data rights despite rare bipartisan support for the regulation.
Treasury Secretary Scott Bessent argued that tight bank regulations are driving the growth of private credit, which he thinks reinforces the case for deregulation.
