Colonial BancGroup began issuing a Visa branded
The off-line card enables customers to pay for purchases such as gas,
Colonial BancGroup is a $3.7 billion-asset multibank holding company
The regional bank revealed plans Thursday to close most of its supermarket-based branches and replace about half of them with new, nearby standalone branches. The multiyear transition could attract $20 billion to $30 billion in low-cost deposits, executives said.
The bank regulators say they will limit the sending and storage of highly sensitive supervisory information, including by using alternatives such as on-site reviews and requiring notifying banks of data compromises within 72 hours.
State Street executives said Thursday that one of its investment funds was selected as the default investment option for "Trump accounts."
The U.K.-based bank renewed its longest tenured co-brand program, which has been running for more than 20 years, for another decade. The renewal will help the bank expand its consumer banking portfolio.
The central bank failed to prevent critical economic information from falling into the hands of "foreign adversaries," according to a report from its inspector general.
The Treasury's leader said the administration is not letting up on its efforts against alleged political violence, a campaign likely to raise the stakes of banks' relationships with politically sensitive nonprofits.
