Americas

The Pennsylvania company said it faces $7.5 million in potential exposure from a commercial lending relationship.

In blue states in particular, governors and attorneys general are taking up the mantle of consumer protection during the coronavirus emergency, effectively adding another layer of regulation to the patchwork of state and federal oversight.

Many states are offering additional flexibility as more consumers dip into their savings as a result of the pandemic’s economic fallout.

At just $3.7 million in assets, tiny Financial 1st Federal Credit Union has voted to merge into Horizon FCU.

Pinnacle Bankshares and Virginia Bank Bankshares said the move will let each bank focus more on responding to the COVID-19 pandemic.

Jamie York has taken the helm at Neighborhood Mortgage Solutions as CEO Greg Wischmeyer prepares to retire.

Spirit of Texas Bancshares named an interim CEO for Dean Bass, though the company said he is recovering.

The Fairfax, Va.-based credit union agreed to pay $2.7 million in the class action case, though it did not admit any wrongdoing.

The Massachusetts-based credit union said its strong financial position will help it better serve members as the coronavirus crisis deepens.

Some regulators had started shifting to more remote oversight before the pandemic, though the initiatives haven't been a priority for credit unions and their advocates.