WHEATFIELD, N.Y. – North Tonawanda Community FCU is seeking a permanent property tax exemption to for moving a branch into one of the state’s industrial development zones. The Niagara County Industrial Development Agency said it is willing to provide a 10-year tax break, but will consider the request. The credit union is investing about $250,000 to move its branch into a bigger building and to add two full-time workers at the branch.
San Diego County Credit Union won a court ruling that should help in its effort to get out of its deal to merge with a local competitor. A lawyer for SDCCU said he believes the judge's decision "signals the end of any merger between the two institutions."
The case exposes a systemic risk for banks: incident-response and ransomware-negotiation firms receive sensitive breach details that a corrupted insider can sell back to the attackers.
Miami's Ocean Bank appointed Yuni Navarro to its board of directors; Indiana-based Interra Credit Union announced it will acquire The Hicksville Bank in Ohio; JPMorganChase hired Chris Mihok from Keefe Bruyette and Woods; and more in this week's banking news roundup.
Even as they continue to press for additional changes, banks get some wins from the revised Basel capital framework and a ballpark estimate of their capital outlook for the next few years.
The B2B payments fintech contends the digital asset can wring inefficiencies out of corporate payments processing.
Hokodo, a British business-to-business buy now/pay later fintech, has shut down after eight years. Its closure offers important lessons about the future of the concept.
