BROCKTON, Mass. – Crescent CU said last week it is merging with the smaller Uniti CU in a marriage of two credit unions chartered to serve the local shoe manufacturing industry. After the merger, the sole branch of Uniti CU, a $50 million credit union founded in 1936 at Brotherhood CU, will become a branch of Crescent CU, a $310 million credit union. Crescent CU was chartered in 1919 also to serve employees of the local shoe industry.
A Treasury proposal would remove race and ethnicity from the criteria Community Development Financial Institutions can use to establish a targeted market population, a move that could affect institutions serving minority communities.
Technical hurdles and depositor inertia get in the way of Meta Muse or another AI agent sweeping all consumers' deposits out of their banks any time soon.
Discussions about what David Solomon's longtime heir apparent might do as CEO surfaced following news reports that Waldron could take over as soon as next year.
Sen. Ron Wyden, D-Ore., has accused the Department of Justice and the FBI of withholding the release of an interview with a prominent banker connected to Jeffrey Epstein. A law passed earlier this year requires the DOJ to release Epstein-related files.
President Trump Wednesday evening posted on social media that former Federal Reserve Chair Jerome Powell should "be forced to resign" from the board and has instructed the attorney general to investigate.
The agency said adequate reforms are in place after a 2024 investigation found pervasive sexual harassment, discrimination and misconduct at the regulatory agency.
