Americas

Santander Bank's U.S. unit will be eliminating 80 mortgage-related positions as it withdraws from the third-party origination sales channel and refocuses on producing home loans through its branch network.

Management at the Wyoming, Mich.-based institution decided on the name Bloom Credit Union after a review of its core values and market position.

Hove, who spent 11 years on the Federal Deposit Insurance Corp. board, was the agency's acting chairman three different times during the 1990s. He held several jobs in banking, including chairman and CEO of Minden Exchange Bank & Trust, which had been led by his father.

First Mutual Holding is buying the tiny Blue Grass Federal and keeping its charter. The deal will allow the seller to save costs and maintain its autonomy.

The company has agreed to buy Albany Bancshares, which has four branches near the Iowa border.

The most recent Credit Union Trends Report from CUNA Mutual Group is “indicative that both the credit cycle and the U.S. business cycle are moving into their last stage before the next economic slowdown,” according to one economist.

The Granite State’s highest court upheld a lower court’s ruling in a suit claiming the banking trade groups had defamed the patent firm.

As major U.S. cities continue to implement contactless tap-and-go acceptance to collect transit fares, at least one bank sees this trend as an opportunity to put its cards on center stage.

The Louisiana company will enter two new markets after it buys the locations.

Community First will pay $40 million in cash for the parent of Affinity Bank.