Growth strategies

State Regulator Rejects Texas-Sized FOM For Conglomerate CU

Published July 08, 2012, 10:27 a.m. EDT

|

Updated August 26, 2020, 10:47 p.m. EDT

1 Min Read

AUSTIN, Texas – The Texas CU Division denied an application from Resource One CU, a product of six mergers, to cover a huge swatch of territory covering more than five million people in Harris, Collin and Denton counties.

Processing Content

The $360 million Dallas credit union was chartered in 1936 as Sears Dallas Employees FCU to serve employees of the Catalog Order Plant of Sears, Roebuck in Dallas and now serves residents of Dallas or northwest Harris (Houston) counties or within a 10 mile radius of its Carrollton branch after mergers with the Dallas Morning News, Safeway, Southland Corp., Texas Associates, Priority One and Metroplex credit unions.

The state regulator did approve an application from First Class American CU to serve the city of Fort Worth.

For reprint and licensing requests for this article, click here.

Growth strategies

MORE FROM AMERICAN BANKER

Originations

Mortgage credit hits three-year high entering spring market

The Mortgage Bankers Association found gains in March for conforming, jumbo and government-sponsored loan indices for the third consecutive month.

By Andrew Martinez
Reporter

24m ago
Consumer lending

Fifth Third official: AI will help banks 'out-code' vendors

Jay Plum, head of consumer lending at Fifth Third Bank, says artificial intelligence is fundamentally shifting relationships between banks and their third-party software vendors, allowing banks to do things on their own that they would previously rely on vendors to do for them, like identify risky loans and prepare for exams.

By Kate Berry
Reporter

6h ago
Politics

White House says stablecoin yield won't hurt bank deposits

A new analysis from the White House's Council of Economic Advisers says the banking industry's fears about deposit flight are overstated. Experts familiar with the banking industry's concerns say the report's conclusions are beside the point.

By Claire Williams
Reporter

April 8
Agentic Commerce

Visa expands agentic commerce; Revolut battles Italian regulators

The card brand introduced tech for businesses to tap agentic AI, while Revolut counters Italy's accusations of inaccurate marketing. That and more in the American Banker global payments and fintech roundup.

By John Adams and Joey Pizzolato

April 8
Treasury Department

Treasury proposes AML rules for stablecoin issuers

The Treasury Department Wednesday proposed a set of rules that would require stablecoin issuers to abide by risk-based anti-money-laundering programs similar to those that banks must employ, as well as secondary market monitoring and independent testing by issuers.

By Ebrima Santos Sanneh
Reporter

April 8
M&A

Capital One pushes deeper into AI, business payments

Closing its Brex acquisition adds a corporate-focused fintech and new agentic commerce tools to an already considerable consumer payments division.

By John Adams
Executive Editor, Payments

April 8

Load More