Americas

The San Jose, Calif.-based credit union decided to make the change because there were too many other financial institutions with a similar name.

The company plans to use the new capital to pursue growth opportunities.

The Houston-based institution said investments in financial technology have led to operational efficiencies that enabled it to return more than $263,000 to members.

Alliance Bank Central Texas may have found a way around National Credit Union Administration regulations that make it difficult for banks to buy credit unions.

The Montana company agreed to buy Heritage Bancorp for $241 million.

National Credit Union Administration regulations make it difficult for banks to buy credit unions, but one Texas bank may have found a partial way around that.

Bonnie Lee will succeed C.G. Kum, who is retiring as CEO next month.

A bill recently introduced in the California state assembly would create a framework for local governments to set up their own taxpayer-owned banks. It’s more specific than other public-bank proposals, which raised more questions than they answered, but still faces long odds.

The disaster has caused billions of dollars in damages across several Midwestern states.

Lenders argue that the move is premature, citing record-low charge-offs in the agency's 7(a) program.