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In a new detailed report, the Federal Reserve laid out four options for upgrading the creaky U.S. payment system. The study raised questions about how far the Fed can, and should, go to bring about change.
January 26 -
Two Pennsylvania banks recently called off a mutual conversion/merger after the FDIC rejected it on policy grounds. The decision and lack of guidance from the FDIC could spell trouble for other banks with similar plans.
January 26 -
The Supreme Court gave borrowers the path to file a rescission notice without going to court, but experts expect more banks to initiate legal proceedings to stop rescissions they see as frivolous.
January 26
Carroll Bancorp in Sykesville, Md., has raised $5.1 million through a private placement of its common stock.
The $113 million-asset company sold the shares for $16.50 each in a placement that ended on Jan. 23. Ambassador Financial Group in Allentown, Pa., which handled the placement, announced it in a press release Tuesday.
Ambassador said that placement's participants were "a mix of new local individual investors, existing shareholders, Carroll Bancorp insiders and several new institutional investors." The company did not identify any of the investors.
Carroll plans to use funds to expand "lending activity in its core market and support commercial lending in recently entered adjacent markets," Jacob Eisen, Ambassador's head of capital markets, said in the release.