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Lawmakers approved adding the measure, which gives banks legal cover to serve cannabis firms, to a broader legislative package. But the provision has already passed the chamber several times and analysts say full enactment will be more difficult.
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Longtime bank executive Uma Wilson will head the cross-disciplinary team.
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Marc Womack, a former executive at JPMorgan Chase, Capital One and GE Capital, will join the subprime auto lender next month.
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The deal would propel New York-based Valley National into the ranks of the nation's 30 largest banks.
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In the last 10 months, three banks based overseas have announced their exit from retail banking in this country. Rising competition, revenue challenges and a pressing need to spend big on technology are driving the moves.
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SPIRE Credit Union and Midland Co-op Credit Union both began as Twin City Oil Co-ops Credit Union, but separated in 1940 at the recommendation of regulators.

















