The corporate network continued to contract last week with another merger announced, this one between Louisiana Corporate CU and Corporate America CU. The combination will create a corporate with about $1.3 billion in assets and serving more than 300 natural person credit unions. Under the plans, Corporate America CU will be the surviving entity and Louisiana Corporate CU would continue to operate as a branch of the Irondale, Ala.-based corporate. At least two other corporate mergers are already in process: Western Corporate FCU (WesCorp) with Volunteer Corporate FCU (VolCorp); and Empire Corporate FCU with Mid-States Corporate FCU. The merger of the Louisiana and Alabama corporates will leave 27 surviving corporates of a network that included 44 corporates, not including U.S. Central CU, a decade ago.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A new partnership with Google Cloud will let the Spanish bank offer Gemini to all staff after a successful ChatGPT deployment.
July 3 -
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
In a rare move for a credit union, the Seattle institution has snapped up the 13-member team that created EarnUp's AI Advisor product.
July 3 -
The Federal Reserve has banned a Wyoming bank employee from the banking industry for embezzling more than $30,000 from a charity.
July 3