State of Texas

A federal judge harshly criticized the settlement of a civil suit between the Department of Justice and a Texas land developer.

A federal judge refused to sign a settlement agreement between the Department of Justice and Houston developer Colony Ridge because it failed to provide any consumer relief. DOJ agreed to an out-of-court settlement instead.

Houston developer Colony Ridge Development agreed to resolve allegations that it operated a bait-and-switch scheme targeting Hispanic immigrants that led to massive foreclosures.

South Plains Financial agreed to pay $105.1 million in stock to acquire a seven-year-old Houston community bank in its first M&A foray since 2019.

Texas' SB 1281 introduces harsher penalties — up to life in prison — and targets check fraud as banks report rising financial crimes tied to stolen mail.

The merger, which provides for $6.75 million in payments to three Space City Credit Union executives, had drawn criticism. But Space City members approved it by an 82% to 18% margin.

The legislation would bar firms that receive government contracts from discriminating against firearms companies. Smaller banks have quietly dropped their opposition in hopes of gaining more municipal bond business.