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Somerset Savings Bank will convert to a stock-owned bank before merging with Regal Bancorp, the holding company for the $545 million-asset Regal Bank, also in New Jersey.
July 26
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President Biden is considering extending a pause on student loan repayments for several more months, as well as forgiving $10,000 in student loan debt per borrower, according to people familiar with the matter, as he seeks to appeal to young voters ahead of the November midterms.
July 26
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UBS signaled that it’s part of a broad probe by U.S. regulators into messaging by bank employees that’s likely to saddle lenders with fines of about $1 billion.
July 26
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In her new book, “Direct: The Rise of the Middleman Economy and the Power of Going to the Source,” Columbia Law professor Kathryn Judge examines how middlemen offer — and often limit — consumer choice.
July 26
American Banker -
Under the leadership of new CEO Rob Holmes, the Dallas-based company has embarked upon a top-to-bottom transformation to become the "flagship financial services firm" of the Lone Star State. But can Holmes make progress quickly enough to satisfy impatient investors?
July 26
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The jury at an upcoming trial can draw an adverse inference about evidence destruction by the Chicago-based bank, a federal judge ruled. The plaintiff is seeking $1.9 billion from the bank, in addition to punitive damages and other funds in a bankruptcy-related case stemming from a Ponzi scheme.
July 25
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The Consumer Financial Protection Bureau said “time is running out” for military student loan borrowers to obtain debt relief under the Public Service Loan Forgiveness program.
July 25
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The text of the Overdraft Protection Act hasn’t changed in 10 years, but the banking industry has shifted dramatically.
July 25
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HSBC Holdings' U.K. unit is planning to stop collecting data on the gender of its customers across some products as the bank pursues more inclusive services for nonbinary and trans people.
July 25
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The credit reporting agency is trying to get a CFPB lawsuit dismissed by claiming the consumer bureau didn’t sign off on a 2017 consent order for the same violations.
July 24
