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In the wake of Hurricane Ida, the latest storm to batter the Gulf Coast, John Hairston is grappling with the consequences of a warming planet. He suggests that it's imperative for banks and their regulators to be part of the solution.

Meridian Trust Federal Credit Union and Western Heritage Federal Credit Union plan to combine into an institution with more than $600 million of assets and roughly 40,000 members.

Square, the mobile payments company, has joined with other tech companies in a cross-licensing platform to reduce patent lawsuits over cryptocurrency and promote the growth of digital currencies.

Elizabeth Warren asked the Federal Reserve this week to force the spinoff of the bank’s nonbanking operations. Wells, which was recently hit with another $250 million fine, countered that it has made significant progress in improving its risk management and addressing misconduct.

Canapi Ventures — created by former comptroller of the currency Gene Ludwig and banker Chip Mahan — and other venture capital firms say Peach Finance stood out because, unlike so many other startups, it's not focused on loan originations.

Pentagon Federal Credit Union bought its own Cessna, citing safety considerations and the cost of commercial air travel during the pandemic. But the purchase has fueled bankers' criticism of how credit unions use their tax exemption.

Kelley R. Taylor is a reporter for The Bond Buyer. Previously, Kelley covered developments in tax, law, and education for Tax Notes Today, School Library Journal, and Ernst & Young. She holds a B.A. in psychology from the College of William and Mary and a J.D. from George Mason University’s Antonin Scalia Law School.

Daily edition for September 14, 2021

The agency’s enforcement action against a Virginia nonprofit is seen as reining in income-share agreements, which give students tuition in exchange for future wages and which critics complain have evaded scrutiny. Clearer regulatory guidance could solidify ISAs’ legal viability, proponents say.

On Jun. 30, 2021. Dollars in thousands.