ALAMAGORDO, N.M. – Otero FCU is planning to build new offices, a two-story building that will provide the $210 million credit union with 22,000 square-feet of space.
The credit union has worked out of the same headquarters since 1972.
Officials with the credit union, which serves four surrounding counties, broke ground on the new headquarters on Oct. 23and expect construction to take about a year.
Santander U.S. and Webster Financial are doing integration work in advance of their pending merger, including naming business-line leaders, the banks said in separate notes.
The FDIC board voted unanimously to issue a proposal putting a rebuttable ban on bank-issuers paying yield on stablecoins, another narrowing AML requirements and a third prohibiting examiners using reputational risk in exams, outside of operational or financial risks.
The neobank is rolling out Chime Prime, a new membership service that rewards customers for making Chime their primary bank account.
The Minneapolis-based company plans to leverage the arrangement to draw more attention to its growing list of national business lines, transcending its regional reputation.
Swiss banking giant UBS tried to get a federal court to reject new allegations that Credit Suisse, which UBS acquired in 2023, had concealed Nazi-linked assets.
Jamie Dimon said the revised Basel III plan still overstates risk and penalizes the largest banks.
