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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.

The chair of the Federal Reserve said the backlash over the personal financial transactions of two Fed bank presidents — made when they were privy to discussions about the central bank’s coronavirus response — demonstrated that internal guidelines can be bolstered to avoid the appearance of conflicts.

The institution, which dates to the mid-1800s, helped fuel the state’s growth during the 19th and 20th centuries. Its charter will cease to exist when it's sold to U.S. Bancorp.

Shelly Brown, who was most recently the credit union’s senior vice president of operations, was tapped to lead the institution.

Its deal for the unaffiliated but similarly mission-focused Amalgamated Bank of Chicago would create a $7.6 billion-asset institution serving unions, nonprofits and organizations that support environmental sustainability and social enterprises.

The Dallas-based bank holding company said it would pay $62.5 million in cash to buy the privately held North Avenue Capital, the top lender in the USDA's Business & Industry program.

The $12.3 billion-asset Boston bank set an ambitious three-year target for mortgages and small-business loans in low-income areas. It's a major part of a $5 billion commitment to financial inclusion and clean energy.

An app that strives to be a "one-stop shop" for all money matters is likely to please nobody.

Daily edition for September 22, 2021

The nation's largest bank has chosen Thought Machines' technology for its U.S. consumer bank.

At a House Financial Services Committee hearing, lawmakers on both sides of the aisle questioned the widespread practice of screen scraping and agreed that consumers should have a more direct say over how their financial data is handled.

Whether to approve the $8 billion deal will fall to the Fed, whose board may be reshaped by President Biden in the coming months. The White House recently called for more robust scrutiny of bank acquisitions.

The company's new app bundles banking services such as payments, buy now/pay later and direct deposit. But the company plans to add features that could include stock trading, a popular offering from tech startups.

Only one credit union has answered the National Credit Union Administration's call for feedback on how the industry views and uses cryptocurrencies and blockchain technology.

Senate Majority Leader Chuck Schumer said he planned to move Tuesday to file a discharge petition to move Chopra’s nomination out of the Senate Banking Committee and onto the Senate floor.

JPMorgan Chase bought the college financial-planning platform Frank, the latest in a string of acquisitions the largest U.S. bank has made this year to compete with both big technology firms and fintech upstarts. 

By acquiring Citizens Union Bancorp, the Indiana-based German American will gain 11 branches and more than $700 million of deposits in Kentucky’s largest city.

Bilt Rewards, which offers a loyalty program and credit card that converts rent into reward points, raised $60 million from investors including Mastercard and Wells Fargo, giving the startup a $350 million valuation.

The cash-and-stock deal would add roughly $58 billion of loans and $90 billion of deposits to U.S. Bancorp’s balance sheet, significantly boosting the company's market share in California.

Daily edition for September 21, 2021