PORTLAND, Ore. - (06/16/05) -- AssetExchange, the credit cardbroker, said it helped three more credit unions sell their cardsportfolios to different buyers. Pan Am Horizons FCU, Miami, toldits $4.6 million portfolio to InfiCorp; SourceOne FCU, BrooklynCenter, Minn., sold its $950,000 portfolio to TNB Card Services;and Mokelumne CU, Lodi, Calif., sold its $930,000 portfolio to U.S.Bancorp's Elan Financial.
Profitable community banks based in Georgia and New Mexico have announced deals to sell themselves to credit unions this week, drawing the ire of banking advocates.
A "spike in unusual traffic" caused service degradation for the infrastructure giant, disrupting digital banking for customers.
The West Reading-based bank has opened three offices in California and two in Nevada, continuing its strategy of establishing a presence in high-growth markets around the country, CEO Sam Sidhu said.
Witnesses and lawmakers at a House Financial Services Committee hearing gave a more downcast view of a Senate deposit insurance reform proposal, with many House committee members expressing cost concerns.
In the company's first earnings report since going public, CEO Sebastian Siemiatkowski offered what analysts called a conservative Q4 outlook while laying out its growth plans that included an expanded distribution network, increasing its long-term installment loan penetration with merchants and becoming a full-fledged neobank.
An October staff memo from the Federal Reserve's Division of Supervision and Regulation outlines changes to how supervisory activities will be carried out, including a greater emphasis on relying on examinations conducted by state banking supervisors.
