#WellsFargo landed two teams from #UBS and one from #Merrill that collectively produced almost $5.2 million in annual revenue and managed $923 million in client assets. #wealthmanagement
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The rubber stamp for bank mergers is out of ink. The Federal Deposit Insurance Corporation (FDIC)’s proposed policy statement will bring greater analytical rigor to merger review and align the framework more closely with the requirements under the law. In recent decades, a lax review process has resulted in a consolidated banking sector. While there may be benefits for shareholders and executives, ultimately, American households and small businesses pay the price of a less competitive, less responsive, and more systemically vulnerable banking system. The FDIC will dig deeper into the competitive effects of deals, evaluate whether the merger will better serve the community and assess its impact on financial stability. I am looking forward to ongoing input on the policy statement and the merger review process. https://lnkd.in/eYUzqUij
Prepared Remarks of CFPB Director Rohit Chopra at the Peterson Institute for International Economics Event on Revitalizing Bank Merger Review | Consumer Financial Protection Bureau
consumerfinance.gov
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Consultant ▫ Operations ▫ Public Speaking ▫ Performance Coaching ▫ Compliance ▫ Sales Management▫ Leadership Development
What do you think? The 11th whole bank purchase by a credit union so far this year... Regardless of where you stand on the issue, I find the number and size of acquisitions quite interesting. A few distressed banks, CUs looking to expand commercial portfolios, creating scalability and size for regulatory compliance and certainly more reasons exist. 2024 is certainly turning into a unique year for financial institution growth and consolidation! #creditunion #merger #acquisition #bank #NCUA #FDIC #compliance #ABA #CUNA #ICBA
Georgia credit union to buy Affinity Bank
bankingdive.com
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Business Development Director | Central Texas | Austin & San Antonio | Strategic Relationship Builder / Developer & Connector
BankingDive - FDIC proposes more scrutiny of bank mergers Deals to create banks with $100 billion or more in assets would see greater focus on anti-money laundering and financial stability. Smaller mergers would weigh the impact to local communities. https://lnkd.in/gVJ-kPem
FDIC proposes more scrutiny of bank mergers
bankingdive.com
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The #FDIC recently proposed changes to its Statement of Policy on Bank Merger Transactions, which provides additional FDIC perspective on their process for evaluating merger applications, as well as the principles they will consider in reviewing the applicable statutory factors as set forth in the BMA. Read more in this #clientalert by Heather Eastep and Sumaira Shaikh. https://ow.ly/9BMh50RyHX3 #legalnews
FDIC Proposes Changes and Guidance
huntonak.com
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We've heard from top local #banking executives on the year that was, but what did they have to say about what could be ahead in 2024? This story from Josh Witt includes interviews with heavy-hitters Aaron Bastian of Fidelity Bank / Oklahoma Fidelity Bank; Matt Michaelis of Emprise Bank; Brad Elliott of Equity Bank; and Sam Chandler of INTRUST Bank. #interestrates #economy #acquisitions #mergersandacquisitions
Wichita banking in 2024: What could the year hold?
bizjournals.com
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With the Springfield Wealth Management Group, you and your family receive trusted advice, a personalized financial plan, & an investment strategy that span across your entire Wealth Picture. No better moment to discover the power of having the BULL at your back. #bullish #merrill #financialfortitude https://lnkd.in/gNJF9eaK
Springfield Wealth Management Group, Financial Advisors in San Francisco, CA 94104 | Merrill
fa.ml.com
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Learn about #SEC focus on professional skepticism and #audit quality, #OCC merger review, proposed rules, end of the Fed #BTFP and more in the Crowe February Financial Institutions Executive Briefing. https://bit.ly/3SN47jm
February 2024 Financial Institutions Executive Briefing | Crowe LLP
crowe.com
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“Another #heavy hitter is #heading into the #securitization market for home #equity lines of credit. #Goldman Sachs started #marketing a $244.4 #million deal Tuesday. #Goldman has been among the #top issuers of #prime non-agency #mortgage-backed securities in recent years and the firm #operates in the #expanded-credit #MBS market. As #with its more #traditional #non-agency MBS issuance, Goldman #aggregated HELOCs from various #lenders for the new #securitization. #United Wholesale Mortgage is the #top contributor to the #issuance, accounting for 54.0% of the #loans in the #deal. The issuance #received a preliminary #AAA rating from #Kroll Bond Rating Agency.”
Goldman to Enter HELOC Securitization Market
insidemortgagefinance.com
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#FDIC proposes more scrutiny of #bank mergers #banking #payments #fintech #financialservices #digitaltransformation https://lnkd.in/gMAQYRmz
FDIC proposes more scrutiny of bank mergers
bankingdive.com
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