Michigan State University credit union extends buying spree
The $7.7 billion-asset federal credit union in East Lansing announced its third deal in as many months — the planned purchase of in-market peer Gabriels Community Credit Union. It has two bank acquisitions pending, also.
Barofsky, a former inspector general of the Troubled Asset Relief Program and frequent Wall Street critic, was removed as ombudsman by Credit Suisse in November 2022.
The Pennsylvania bank has agreed to sell its Exchange Underwriters subsidiary to World Insurance Associates for $30.5 million, saying that the deal will help pad its capital and liquidity.
The number of government-backed home loans transferred from one borrower to another is up significantly this year as prospective buyers look for ways to avoid elevated interest rates. Some say this is the beginning of a larger movement, but others