During a closed meeting, the NCUA Board unanimously approved Landmark Credit Union’s acquisition of Hartford Savings Bank, subject to approval from the FDIC, according to a Board Action Bulletin posted last week on the NCUA’s website.
A new report from the Center for Responsible Lending has documented that payday lending at six large banks is continuing, and the reported alleged it is damaging consumers financially.
Checking and debit alternative to get coverage to allow government direct deposit, companies say.
Only approval by the FDIC awaits final approval of the sale of the $190 million Wisconsin community bank to $2.1 billion Landmark CU.
Industry observers point to credit unions buying banks, note that Boston conversion involves unique state charter.
Quarterly report cites improving economic conditions, "meek lending environment."
Landmark has completed 10 credit union mergers in the past three years. This is its first acquisition of a bank.
Letters to chief regulators calls for curbs on payday lending, citing risks to consumers and the institutions themselves.
Wednesday’s House Financial Services Committee to be followed by hearing to be set on credit union regulatory burden.
Regulatory hurdles remain after Boston credit union's members approve change to co-operative bank charter.