One of the nation's few union-owned banks, Amalgamated Bank of New York, is trying its hand at the Washington market.

The New York State Banking Board gave its thumbs-up Aug. 7 for the $2 billion-asset bank, owned by the Amalgamated Clothing and Textile Workers Union, to open a branch in the nation's capital. Approval from D.C. officials is awaited.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.