The Wayne, Pa., business continuity service provider SunGard Data Systems Inc. has acquired Finetix LLC, a New York technology consulting company that specialized in financial services.
SunGard announced the acquisition Wednesday but did not give a price. Finetix provides custom trading, risk management, and e-commerce systems for companies that invest in capital markets.
At its first-ever investor day, the Phoenix-based bank fended off questions stemming from two recently disclosed problem loans, including one that resulted in a $126 million charge-off.
The 90-day-plus delinquency rate on student loans hit 10.3% in the first quarter, and New York Fed researchers warn that a second wave of defaults could be coming. Evidence is mixed regarding the likely impact on other consumer-lending segments.
Kevin Warsh's nomination to the Federal Reserve chairmanship will require a second vote, which should happen this week.
The community bank trade group says crypto firms are combining stablecoin rules, Fed master account access and trust charters to replicate banking without bank rules.
The Canadian bank signed an agreement to sell the businesses to Stonepeak, an alternative investment firm in New York. The move will free up capital and allow the bank to invest in higher growth-potential areas.
President Donald Trump has tapped Treasury official John Crews to be the next chair of the National Credit Union Administration.
