Americas

Undeterred by setbacks in other cities, a broad coalition of community groups is seizing on popular mistrust of traditional banks to press the case for a city-owned bank.

Kerry Parker plans to retire from the Austin, Texas-based institution next month.

The moves are part of a plan CEO Rajinder Singh discussed in a conversation with American Banker.

Amazon led a Series G funding round worth £475 million (about US$575 million) with three other investors for London-based food delivery company Deliveroo.

The two leagues expect to spend the rest of this year integrating the merger, which will become effective no later than Jan. 1.

IAM Community Federal Credit Union in Enterprise, Ala., voted last year to rebrand as a way to attract more members under its community charter.

Heritage will have 17 branches around San Francisco when it completes the $200 million acquisition.

Farmers were already taking on more debt to cover losses from falling crop prices. New tariffs and other retaliatory moves could hurt ag borrowers further and lead to loan losses and tighter underwriting.

Edward Rostohar, who was CEO of CBS Employees Federal Credit Union, could face up to 15 years in prison following a $40 million scheme that brought down the institution.

The American Institute of Certified Public Accountants says banks are fighting accounting fatigue — thank CECL for that — and wants the FASB to push back a deadline for privately held firms to put operating leases on their balance sheets.