First BanCorp of San Juan, Puerto Rico, has an agreement to buy Ponce General Corp. in Miami, which owns the $471 million-asset UniBank.
The deal would give the $15.2 billion-asset First BanCorp its first presence on the mainland: nine branches in Miami. First BanCorp has 112 branches in Puerto Rico and in the U.S. and British Virgin Islands.
The price was not disclosed. The deal was announced Monday and is expected to close in the first quarter.
The White House has nominated Brian Johnson, the former CFPB deputy and a veteran Capitol Hill staffer, to permanently lead the bureau.
Adam Metz has spent the past decade in senior management roles at Pennsylvania-based Orrstown. For the past year, Metz, served as chief operating officer and the designated successor to departed CEO Thomas Quinn.
The Commodity Futures Trading Commission wants to establish a framework to evaluate prediction market contracts and determine whether some contracts are related to invalid events or generally serve the public interest.
Within hours of a judge's approval of an interchange settlement, merchant lobbyists were crying foul over the latest attempt to end a two decade legal fight, making references to "next steps," while analysts predicted an appeal.
The Financial Technology Association has gone to court, claiming the state's remittance tax is invalid because it infringes on the dormant commerce clause and import-export clause in the U.S. Constitution, which prohibits states from enacting laws that discriminate against foreign commerce and from taxing imports and exports without Congress' consent.
Most banks are unprepared to stop or report an AI model run amok, a Wolters Kluwer study found.
