Daily Edition

Mid-Southern Bancorp angered several large shareholders after disclosing that it bought another’s shares for a hefty premium. The seller’s identity is unknown, but the bank’s shareholders include a number of prominent activists.

Scott Credit Union of Edwardsville said it is acquiring Tempo Bank in Trenton, Illinois. It is the fifth such transaction announced since Aug. 5 and the 10th of the year.

Critics of consolidation say the Federal Reserve and other agencies are too quick to greenlight bank deals. But the truth is banks face many hurdles to merger approval, and they don’t bother to apply — or take a hint and withdraw their applications — if they can’t clear them all.

The move means companies can give consumers options other than ACH transactions or debit cards to receive disbursements for insurance claims, health care or gig work.

Daily edition for August 20, 2021

The Biden administration will soon face tough decisions on whether to renominate Jerome Powell as Federal Reserve chair and whom to select for vice chair of supervision and other posts.

It would be the second bank acquisition for Fairwinds, which bought Friends Bank in Florida in 2019.

Signed Thursday by Gov. Andrew Cuomo, the new law requires state-chartered banks to pay checks in the order they are received or from smallest to largest. The bill comes as banks nationally are revamping their overdraft policies.

Victor Ngo, 33, has pleaded guilty to making a false statement to JPMorgan Chase when he said his medical marijuana dispensary was a wellness and fitness company.

Customers have been particularly frustrated with midsize issuers for failing to adjust their rewards programs to reflect changing behavior and generally being less responsive than large issuers, according to a new report from J.D. Power.

Many customers in health care and other sectors remain resistant to new technologies. Here's how banks are trying to persuade them to adopt more efficient payments and back-office systems.

After the state’s mask mandate was lifted, Michigan First Credit Union said it would no longer allow masks in its stand-alone branches, citing security concerns. Following an outcry from some members, the credit union updated its rule to allow clear face coverings.

The card network plans to start removing stripes on cards in three years and will eliminate them entirely by 2033. That is expected to be enough time for most merchants to adjust, but gas station operators worry they won't be ready when the transition begins.

Goldman Sachs Group agreed to buy the asset-management arm of the Dutch insurer NN Group NV as the bank grabs a toehold in the fast-growing sustainable-investing industry and boosts its European ties.

Inventors at Bank of America kept originating ideas, leading to a record-setting first half of the year, even while continuing to work from home.