NEW YORK LaBranche & Co., one of the largest specialist firms on the New York Stock Exchange, said Tuesday that it had signed a letter of intent to acquire Bocklet & Co. LLC, a competitor.
LaBranche said Bocklet would add 60 companies to its own current 512. Terms were not disclosed. The transaction is subject to due diligence, execution of a definitive acquisition agreement, and regulatory approval, LaBranche said.
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
Strong consumer spending and cross-border activity drove an 8% increase in Visa's total payments volume during the first quarter of the year, although Asia's economic recovery is taking longer than expected.
Mastercard launches service to fight instant-payment fraud, EU may green-light Apple's NFC-access plan, and more.
The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
