Virginia banks merging in $47 million deal
American Banker
MARCH 26, 2024
First National has agreed to buy Touchstone Bankshares. The combined company would have more than $500 million each of deposits and loans.
Virginia creates new protections for active service members, veterans, and their family members
CFPB Monitor
JULY 7, 2021
On July 1, Virginia Governor Northam signed Senate Bill 1410 which amended several Virginia anti-discrimination statutes to prohibit discrimination based on “military status.” The amended laws include the Virginia Human Rights Act which prohibits discrimination in places of public accommodation and employment.
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Virginia community banks merge, Michigan credit union acquires bank
American Banker
JANUARY 26, 2024
National Bankshares in Virginia agrees to acquire in-state peer, Advia Credit Union in Kalamazoo strikes deal with Illinois bank, EBANX's annual Beyond Borders study launches and more in the weekly banking news roundup.
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From friends to deal partners: Atlantic Union to buy American National
American Banker
JULY 25, 2023
The $417 million agreement would give Richmond, Virginia-based Atlantic Union Bankshares "the critical mass" it needs in its home state and neighboring North Carolina, according to CEO John Asbury. He and his counterpart Jeff Haley at American National Bankshares in Danville, Virginia, describe each other as longtime pals.
An anti-ESG darling campaigns for Congress
American Banker
APRIL 10, 2024
West Virginia Treasurer Riley Moore, who's put banks on a blacklist for their support of ESG policies, is up for (and very likely to win) one of the state's two seats in the U.S. Here's how he got there, and what it'll look like when he tries to bring his anti-ESG policies national.
Virginia Homeowners Insurance: A Guide for Getting the Right Coverage
MyBankTracker
JANUARY 14, 2021
Homeowners insurance in Virginia is a policy that protects your house. So, if you have a homeowners insurance policy in Virginia, or if you’re thinking about buying one, here’s what you need to know about coverage and rates. Average Rate of Homeowners Insurance in Virginia. Virginia Beach $3,126. Chesapeake.
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Virginia banks announce plans to merge
American Banker
OCTOBER 1, 2020
Virginia National and Fauquier Bankshares are planning to create a $1.6 billion-asset company focused on the middle part of the state.
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Southern National, Eastern Virginia Bankshares to Merge
American Banker
DECEMBER 13, 2016
Southern National Bancorp of Virginia in McLean has agreed to buy Eastern Virginia Bankshares in Glen Allen for $178.3 million.
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Access National to Buy Middleburg Financial in Virginia
American Banker
OCTOBER 24, 2016
Access National in Reston, Va., has agreed to buy Middleburg Financial in Virginia for $233.1 million, or $32.51 a share, in stock.
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Smart Card Alliance opens Washington, DC-area training center
Payments Dive
FEBRUARY 23, 2016
The National Center for Advanced Payments and Identity Security in Crystal City, Virginia, will be a permanent facility for live educational activities hosted by SCA.
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First National to enter southwestern Virginia with Bank of Fincastle deal
American Banker
FEBRUARY 18, 2021
The company has agreed to pay $32 million for a bank with six branches and $256 million of assets.
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Southern National in Virginia hires Dennis Zember as its next leader
American Banker
FEBRUARY 20, 2020
Zember abruptly resigned as CEO of Ameris Bancorp last summer.
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The Evolving State Of The Restaurant And Delivery Industries
PYMNTS
MARCH 2, 2020
The 2020 outlook report from the National Restaurant Association illustrates an industry contending with the countercurrents of solid consumer spending and disruptive technology. 2019: The year students at George Mason University in Virginia and Northern Arizona University started getting food delivered by robots.
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SBA Eyes Fees Paid To Rocket Loans, Contractor In Loan Program
PYMNTS
AUGUST 30, 2020
government's Economic Injury Disaster Loan (EIDL) program, plagued by delays and fraud, has created attention for a firm that netted around $800 million in fees while subcontracting the work out to the nation's largest mortgage lender, The Wall Street Journal (WSJ) reported.
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Memorial Day: Remember Maurice "Maury" Hukill
Jeff For Banks
MAY 23, 2021
During the ensuing years, Syrian, Israeli and United Nations interventions failed to resolve the factional fighting and the resulting instability and bloodshed. Maury attended Virginia Tech, and in 1981 received his degree in forestry and wildlife management at VT's College of Natural Resources and Environment. Most were still asleep.
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Time Tried, Panic Tested. The Forgotten Story of the First National Bank of Keystone
Jeff For Banks
NOVEMBER 24, 2019
September 1st, 1999, regulators from the Federal Deposit Insurance Corp, at the behest of the Office of the Comptroller of the Currency, descended on a small coal mining town in Keystone, West Virginia. The bank, First National Bank of Keystone, was $1.1 And so went the birth of First National Bank of Keystone's meteoric rise.
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Amazon Gains Juicy Incentives With New Headquarters Locations
PYMNTS
NOVEMBER 13, 2018
Amazon has selected New York City and Northern Virginia as the homes for its second and third headquarters. Virginia has also pledged $195 million in infrastructure improvements, work that involves subway stations and a pedestrian bridge for people headed to Reagan National Airport.
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Amazon HQ2 Secures $51M Funding Vote In VA
PYMNTS
MARCH 18, 2019
Amazon.com’s plans to open its HQ2 in Virginia got the support of local officials who approved a financial package valued at $51 million over the weekend. Late last year Amazon chose National Landing, a location that is owned by Arlington County and the city of Alexandria, as its second headquarters in conjunction with New York City.
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FAA Green-Lights UPS Drone Deliveries Throughout US
PYMNTS
OCTOBER 1, 2019
“This is a big step forward in safely integrating unmanned aircraft systems into our airspace, expanding access to healthcare in North Carolina and building on the success of the national UAS Integration Pilot Program to maintain American leadership in unmanned aviation,” said U.S. Secretary of Transportation Elaine L.
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Bitcoin Daily: Argentina's Crypto Exchanges See Record Growth In 2020; JD.com Sees 20,000 Digital Yuan Transactions In 24 Hours
PYMNTS
DECEMBER 14, 2020
Suzhou, located in East China's Jiangsu Province, is at the frontlines for China's push to enact a national digital currency. The expansion includes 10 new states: Georgia, Hawaii, Nevada, New Mexico, Ohio, Oregon, Maryland, West Virginia, Delaware and Rhode Island, according to the release. on Friday (Dec.
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Amazon, JPMorgan Donate Money To Ease Coronavirus Crisis
PYMNTS
MARCH 18, 2020
The bank plans to donate $2 million to the COVID-19 Solidarity Response Fund run by the United Nations and the World Health Organization (WHO). that are fighting the coronavirus: ACT for Alexandria , Arlington Community Foundation , Community Foundation for Northern Virginia and the Greater Washington Community Foundation.
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Wealthy Entrepreneurs Turn To Pawn Shops To Start New Ventures
PYMNTS
MARCH 6, 2018
The National Pawnbrokers Association pegs that at about $150, reports said. Last year, the Consumer Financial Protection Bureau and the Attorney General of Virginia took action against a pawnbroker in Virginia, ordering the business to pay restitutions to customers due to misinforming them of fees associated with loans.
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Dick’s Sporting Goods Partners With Instacart For Same-Day Holiday Delivery
PYMNTS
DECEMBER 18, 2020
The program is available in Connecticut, Delaware, Georgia, Maryland, New Jersey, New York, Ohio, Pennsylvania, Virginia and Washington, D.C. . Instacart has partnered with more than 500 national and local retailers in several sectors, including grocery items, beauty products, wellness merchandise and electronics.
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Amazon Picks Two HQ2s
PYMNTS
NOVEMBER 13, 2018
Amazon is expected to announce later Tuesday (November 13) that it chose New York City and Northern Virginia as the homes for its second and third headquarters, reported the Wall Street Journal. Both are located directly across from city centers.
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Lowe’s Employees Decked Out In High-Tech Exoskeletons
PYMNTS
MAY 16, 2017
The national home improvement chain partnered with Virginia Tech to develop a futuristic exosuit for its employees. “As a way to support them, we found a unique opportunity to collaborate with Virginia Tech to develop one of the first retail applications for assistive robotic exosuits.”
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Lawmakers Eye Alternatives To Renter Security Deposits
PYMNTS
JANUARY 19, 2020
New York, Ohio, and Virginia lawmakers all have introduced security deposit-focused legislation designed to help renters in markets often without designated, affordable and low-income housing. Now I’m in a whole different realm,” said Charles Tassell, chief operating officer of the National Real Estate Investors Association.
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Restaurant Business Serves Up Mixed Plate For 2020
PYMNTS
FEBRUARY 27, 2020
The 2020 outlook report from the National Restaurant Association was released today and it paints a picture of an industry dealing with the countercurrents of solid consumer spending and disruptive technology. In fact, by 2030, the National Restaurant Association expects that technology could completely change the face of dining.
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Walmart, Sam’s Club Shoppers Must Wear Face Masks Starting Next Week
PYMNTS
JULY 15, 2020
The Retail Industry Leaders Association (RILA), a Virginia-based trade group that promotes consumer choice and economic freedom through public policy, has asked the National Governor’s Association to push for specific and consistent mask mandates. A Goldman Sachs survey found that a national mask law could spare the U.S.
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Cyber Insurance Disputes Rise With Attacks
PYMNTS
DECEMBER 3, 2018
For example, the National Bank of Blacksburg in Virginia sued Everest National Insurance Company earlier this year after the bank was hit by cyberattacks in 2016 and 2017. The bank claimed $2.4 million in losses under its cyber insurance policy, but the insurer disputed the claim and offered $50,000.
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PSCU Unveils Enhanced Fraud Services To Help Protect Credit
PYMNTS
NOVEMBER 10, 2020
PSCU , which is billed as the nation's premier credit union service organization (CUSO), has announced its new Enhanced Fraud Services system, which the company said “has helped 10 early adopter credit unions combat fraud of all types, ranging from first-party chargeback fraud to identifying card information being sold on the dark web.”.
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Pier 1 Plans Sale As It Goes Bankrupt
PYMNTS
FEBRUARY 18, 2020
Bankruptcy Court in Richmond, Virginia. Wells Fargo National Association and Pathlight Capital LP will allow the company to operate while finalizing sales. The Fort Worth, Texas-based retailer franchise said it filed for chapter 11 protection Monday in U.S. The bankruptcy financing from lenders including Bank of America N.A.,
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Viettel Will Debut Commercial 5G Services
PYMNTS
JANUARY 20, 2020
Viettel, for its part, has over 110 million clients in 11 nations, including Peru, Hati and Cambodia. Richard Burr from North Carolina and Mark Warner from Virginia have put forward a bill to push back against the dominance of China in 5G by offering to subsidize firms in the U.S. Viettel announced the plan Friday (Jan.
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Unemployment Filings Top 3.1M Across US
PYMNTS
MAY 7, 2020
Total claims filed since COVID-19 hit the nation in March have topped 30 million. The highest insured unemployment rates in the week ending April 18 were in Vermont (25.2), West Virginia (21.9), Michigan (21.7), Rhode Island (20.4), Nevada (19.9), Connecticut (18.7), Puerto Rico (17.9), Georgia (17.3), New York (17.2)
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NJ Online Gaming Revenue Set To Grow 66 Pct This Year
PYMNTS
DECEMBER 27, 2019
In separate news, reports surfaced in September that mobile sports betting is quickly growing to a point where New Jersey is close to topping Las Vegas as the biggest market in the nation. Mobile betting, however, is only allowed in five: New Jersey, West Virginia, Iowa, Pennsylvania and Nevada per earlier reports.
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131 Rising Interest Rates Have Hurt Smaller Banks
PYMNTS
DECEMBER 17, 2018
The Southern National Bancorp of Virginia is now shelling out 2.25 percent interest on some of its checking accounts, as bigger national banks pay almost 0 percent. These pinched institutions include 34 branches of Banc of California and its 68 percent rise in interest costs over the last year, as it paid to get more depositors.
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WEX Extends Fuel Card Contract With Sheetz
PYMNTS
OCTOBER 19, 2017
states, including Maryland, North Carolina, Ohio, Pennsylvania, Virginia and West Virginia. WEX will display its range of fleet industry products at the National Association of Convenience Stores trade show in Chicago from Oct. Sheetz boasts more than 550 locations in six U.S. billion range.
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Bank Regulators Probe Amazon Cloud
PYMNTS
AUGUST 2, 2019
The Federal Reserve orchestrated an official investigation of an Amazon facility in Virginia, kicking off what is expected to be ongoing oversight of cloud providers, people familiar with the matter told The Wall Street Journal on Thursday (Aug 1). One of the main issues being revisited is Facebook’s purchase of Instagram and WhatsApp.
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144 Credit Karma Now Offers A High-Yield Savings Account
PYMNTS
OCTOBER 4, 2019
percent APY, which is about 22 times higher than the average of national accounts. Credit Karma is partnering with West Virginia-based MVB Bank on the venture. CNBC reports that the savings account won’t have any fees and will not require a minimum balance to open. It offers a savings rate of 2.03
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U.S. Regulations to Consider When Managing a Cryptocurrency Fund
Perficient
MAY 27, 2022
Of particular significance is that in Virginia, banks may offer this service in either a fiduciary or non-fiduciary capacity. This piece was written in collaboration with Chandni Patel, Director of Financial Services and member of Perficient’s Digital Assets Working Group.
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Fiserv Enables SNAP Online EBT Payment Acceptance For Grocers
PYMNTS
MAY 5, 2020
Eight additional states, Idaho, Minnesota, Missouri, Nevada, North Carolina, Texas, West Virginia, Vermont and the District of Columbia, are slated to be added in June.
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Grubhub, BJ’s Restaurants And Brewhouse Announce Partnership
PYMNTS
OCTOBER 16, 2017
Grubhub , a mobile food ordering and delivery platform, is expanding its range of delivery and catering options once again, this time by announcing news of a partnership with another national leader in food services: BJ’s Restaurants and Brewhouse. BJ’s Restaurants, Inc., Additionally, corporate catering is available for business functions.
Update on state small business commercial financing disclosure laws
CFPB Monitor
FEBRUARY 16, 2022
Around the nation, regulators are preparing to implement and enforce new consumer-like disclosure laws for small business commercial finance providers. New York regulators have yet to issue final regulations implementing the state’s Commercial Finance Disclosure Law (CFDL), which went into effect on January 1, 2022.
36 State Attorneys General settle with CarMax over non-disclosure of open safety recalls
CFPB Monitor
DECEMBER 5, 2022
CarMax must also present consumers with copies of open recalls and obtain the consumer’s signature on a standalone disclosure document before presenting any other sales paperwork. .
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AmazonFresh Continues To Expand
PYMNTS
OCTOBER 27, 2016
26) that its grocery delivery platform, AmazonFresh, is continuing its march toward national domination with the addition of two new cities : Chicago and Dallas. Amazon announced yesterday (Oct.
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