- ALEXANDRIA, Va.(11/19/01) - UniTrust Financial Services, a CUSO owned by eightWashington-area credit unions, said it signed with SecurianFinancial Network, a Minnesota Life subsidiary, to providebrokerage services. CUNA Mutual Group's Member Development Corp.had previously provided the brokerage services for the year-oldCUSO. Securian will provide securities brokerage, as well as auto,home and term life insurance coverage. UniTrust Financial is ownedby : CommonWealth One FCU, department of Veterans Affairs FCU,Arlington Virginia FCU, Transportation FCU, Genesis FCU, FairfaxCounty Employees FCU, Fort Belvoir FCU, and Wright-PatmanCongressional FCU.
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Lake Shore Bancorp in Western New York has reached a "standstill agreement" with the Stilwell Group, which has promised not to force a merger or sale in the next three years.
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Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
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Early industry reaction to the Federal Reserve's Basel III proposals points to potential capital relief for banks, though stakeholders say the complexity of the changes makes their overall impact unclear.
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Financial institutions that delay or fail to take this leap risk losing customers and revenue, said speakers at the inaugural On-Chain Executive Summit.
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CISA and Microsoft urge organizations to secure endpoint management systems as threat actors increasingly seek to disrupt operations with wiper malware.
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Piermont Bank hired Dennis Day for a new executive role focused on payments; the American Bankers Association announced the global expansion of its widely used Fraud Contact Directory; MC Bankshares moved one step closer to finalizing its sale to an investor group; and more in this week's banking news roundup.
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