The combination of the Cornerstone League and the Heartland Credit Union Association is the latest in a series of mergers changing the national makeup of the credit union industry.

A dirty little secret in a $1.2 trillion world of credit is getting exposed as the Wall Street rout deepens: Private debt is now the cheaper financing option for big-ticket leveraged borrowers than the ailing public market — upending industry norms.

Missouri-based UMB Financial says it would acquire 157,000 accounts across more than 3,000 employer groups from Old National Bancorp in Indiana.

It appeared Orion Credit Union had a green light to purchase Financial Federal Bank. But the Tennessee Department of Financial Institutions has once again asked a judge to stop the deal, claiming depositors would be "irreparably harmed" if it goes through.

Karl K. Klessig provided a fraudulent loan document and forged a signature in an application last year to acquire control of Golden Pacific Bancorp, according to the Federal Reserve.

Atlantic Union in Virginia made the most of its four-year foray into the registered investment advisory business, but it decided to take a step back after concluding one of its banking clients would do an even better job and that it could invest the proceeds elsewhere.

The boards of the Cornerstone League and the Heartland Credit Union Association are moving forward with due diligence to possibly combine the organizations, which serve credit unions in five states.

Participants in the sale of banks to credit unions may need to do a better job of due diligence and gauging the receptivity of their regulators to such deals, experts say in response to the cancellation of VyStar Credit Union's agreement to buy Heritage Southeast Bank.

The $2 billion-asset buyer could gain more than $300 million of deposits in the Magnolia State.

The buyer, which is based in North Carolina, said buying GrandSouth Bancorp would give it more than $1 billion of assets and eight branches in South Carolina.

Consolidation results in harms such as higher prices, reduced worker bargaining power and increased barriers to competition. Because of that, regulators must carefully vet these deals.

The purchase of Farmers & Stockmens Bank would create a bigger and more experienced Small Business Administration lending team to help the Kansas bank capitalize on a predicted spike in demand motivated by inflation and the prospect of a recession.

BNP Paribas has expressed interest in a potential acquisition of ABN Amro Bank, the Dutch consumer lender that’s been government-owned since the financial crisis, according to people with knowledge of the matter.

VersaBank, which recently announced a deal for a tiny Minnesota bank, says volatility will increase demand for its loans. “Traditionally, we’ve grown rapidly when our point-of-sale financing partners have trouble raising financing,” said CEO David Taylor.

In global news this week, U.K. regulators examine branch closures, Apple complies with Dutch App Store rules, a pan-Nordic payments system prepares for launch, and more.

The digital-only Canadian bank plans to expand throughout the U.S. after acquiring a single-branch subsidiary of Stearns Financial Services.

Constraining consolidation will only hurt the goal of expanding consumers' access to banking services and credit.

The smaller credit union, Dearborn County, sought a merger partner as a way to address its aging technology and shrinking membership pool.

Fintech partnerships and new legislation could help make marijuana more viable and less risky for banks.

The bank's purchase of Digital Payments Torana has become a key element of a newly combined payments business run by Amit Dhingra, enterprise payments director. The fintech's capabilities allow the bank to better serve government agencies, health care providers and other business categories.