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FirstBank is working with the two major U.S. real-time payments systems so that it can suit the preferences of different customers. Its flexibility could set an example for regional and small institutions.

The Seattle bank, a unit of Washington Federal, said it viewed the payment as a “milestone” in its efforts to resolve issues found in its AML program more than three years ago.

If Congress fails to resolve the partisan stalemate by a crucial Oct. 18 deadline, the consequences for the financial industry may be higher borrowings costs, reduced credit supply and plummeting Treasury bond values.

Banks generally did not curtail loans to existing cardholders last year despite mass unemployment, according to new research by the Consumer Financial Protection Bureau. The results contrasted with what happened during the Great Recession.

Daily edition for October 01, 2021

The companies said they are still waiting for the Federal Reserve to approve the deal, which was announced nearly a year ago and was scheduled to close by Oct. 15. The new deadline is March 1.

The company has agreed to buy Fortune Financial, which would give it a toehold in the St. Louis area.

Rohit Chopra, a liberal consumer watchdog, was approved as the agency’s director nine months after the Biden administration first announced him as the nominee.

Joe Maier, JD, CPA, is senior vice president and director of wealth strategy at Johnson Financial Group, where he specializes in business succession, financial and estate planning, and post-death administration needs.

The National Credit Union Administration issued two prohibition orders and two notices of prohibition, bringing the yearly total to 20.