Fed hits two community banks with enforcement actions
The Federal Reserve fined a Montana bank for violating the National Flood Insurance Act and issued a cease-and-desist order against a Dallas bank over money-laundering concerns.
Sterling in Michigan to sell bank for $261 million
EverBank Financial in Florida said the deal would give it $900 million of loans and $2 billion of deposits. Should the deal close in early 2025 as planned, it would culminate a long saga for Sterling.
How credit unions are staying relevant in the BNPL space
As member demand for installment payments increases, resource-strapped institutions are looking for outside help. Fintechs offer the service.
Citigroup to sell trust services unit to JTC for $80 million
Citigroup Inc. is selling its global fiduciary and trust administration services business to JTC as the U.S. bank's wealth arm focuses more on the likes of wealth planning and investment management.