MADISON, Wis. – Heritage CU, chartered to serve employees of Oscar Mayer & Co., will pick up a single branch with a deal to merge Truax CU.
The branch is located at the Dane County Regional Airport and serves military employees.
The $6-million, Madison-based Truax, chartered in 1956, lost $211,000 for the first six months of the year.
Heritage CU has $220 million in assets and nine branches in Wisconsin and Illinois.
The White House issued an executive order Tuesday directing the Treasury department, bank regulators and the Consumer Financial Protection Bureau to advise banks on "red flags" of informal work arrangements. How agencies implement the order will determine how onerous compliance will ultimately be for banks.
Flagstar — one of the largest regional banks, operating around 340 locations across nine states — recently hired four senior executives.
The newest version of the House housing bill would make a ban on institutional investors owning some homes less harsh than the Senate version by removing a seven year mandate on selling build-to-rent homes.
The National Credit Union Administration Tuesday submitted a rule to the Office of Management and Budget stating that federal law preempts state laws on interchange, blocking an Illinois statute banning the collection of swipe fees on taxes and tips.
The Federal Financial Institutions Examination Council — whose members include federal bank regulators — issued a proposal Tuesday to overhaul the bank supervisory ratings process, the first such revision in 30 years. The proposal would reduce the weight management grades have on supervisory ratings and would require rating downgrades to be tied to explicit financial risks.
JPMorganChase's shareholders have occasionally floated proposals to make sure the bank's lobbying dollars match its public statements. At the company's annual meeting on Monday, support for one such measure was down significantly from a similar proposal in 2023.
