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The combined bank would be chartered in North Carolina, with the FDIC serving as its lead federal regulator, N.C. Banking Commissioner Ray Grace says. The merger partners had other options, including the Fed and the OCC.
March 12 -
The Lake Mary, Fla.-based shop will also convert to a state charter and plans to drop the phase "credit union" from its name.
February 7 -
In a speech in Japan, the comptroller of the currency urged overseas institutions to consider a “single regulatory framework” instead of applying to multiple states.
November 14 -
The Mass.-based credit union is the latest to drop its federal charter in favor of state oversight.
September 26 -
A proposal to let certain thrifts operate like national banks blurs the line even further between the two institution types.
September 24 -
Northern Credit Union in New York has shed its federal charter, while Gale CU in Illinois has converted to a community charter.
August 13 -
Cobalt Credit Union serves 14 counties across Nebraska and Iowa, but hopes to change to a state charter to help fuel further expansion.
August 2 -
The Hudson, N.Y.-based credit union hopes a community charter will better enable it to serve the high population of unbanked consumers in the region.
May 31 -
The bank sought to evade the consequences of compliance failures including weak scrutiny of transactions that could be tied to North Korea, the N.Y. banking superintendent said in demanding access to communications between the bank and its new supervisor, the OCC.
May 29 -
The move is expectedto take effect June 1.
May 10