Finance

JPMorgan tells OxyContin maker to take its business elsewhere; reelection tallies are smaller than last year’s.

The California-based institution posted growth in loans but saw net income fall from a year earlier.

During its monthly meeting, the National Credit Union Administration board also approved a proposal to increase CU access to non-member deposits, a move bankers are already railing against.

The two lenders are bucking the trend for the overall industry, which saw year-over-year mortgage growth slide to a 17-year low in March, according to the Bank of Canada.

The McLean, Va.-based institution said that its capital hit a record $2.5 billion last year.

The pace is torrid now, but it could slow if bank stock prices keep rising and one prominent lawmaker’s proposal to restrict share repurchases gains traction.

Galileo Processing has created a digital banking product that seeks to provide wealth managers with the offering they generally lack: an in-house savings account that pays competitive rates.

Prepayments tied to repeated VA loan refinancing activity have had an adverse effect on Ginnie’s mortgage securities that persists despite countermeasures. The government bond issuer is making new plans to address the impact.

The company agreed to buy Charter Bank, which has four branches and $161 million in assets.

Credit unions on the Corda blockchain platform will be able to make payments via EFT with CU Pay, a product the CUSO plans to roll out next year.