Americas

The Society for Worldwide Interbank Financial Telecommunication, or Swift, has named David Scola, a former Barclays exec, its new head of North America operations.

Both of the credit unions being absorbed posted losses for 2017 and the first half of 2018.

The $2.7 billion-asset credit union is mobilizing support for relief efforts following floods in the southern central portions of the Badger State.

Canada’s credit unions have been losing out to the country’s banks in terms of business banking market share, and have struggled to keep up with the banks’ capacity for technological innovation. Central 1 wants to redress this imbalance in the credit unions’ ability to compete with the banks.

Jeanne Walker will leave Houston-based Southern Federal Credit Union later this year, with Credit Union Resources leading the search for a successor at the $93 million-asset institution.

Bank7, which aims to raise $75 million, also has extensive dealings in the hospitality industry. The company has completed two acquisitions since 2011.

The decision to adopt the name Axos Bank seems to put more distance between the company and its internet roots.

Many financial institutions are unaware that they're banking marijuana-related businesses, pot bankers and regtech experts say.

Larger community banks are favoring bigger targets — or relying more on organic growth — to expand.

Lakeland will expand its operations in three counties in its home state of New Jersey with the $57 million acquisition.