NCUA liquidates credit union in South Carolina

American Banker

NCUA liquidates credit union in South Carolina

American Banker

Credit unions Regulation and compliance

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Tiny South Carolina credit union is NCUA's first conservatorship of 2021

American Banker

Compliance Credit unions Earnings NCUA South CarolinaCO Federal Credit Union, which has $4.5 million in assets and serves just 785 members, was conserved due to unsafe and unsound practices, the regulator said.

South Carolina enacts Servicemembers Civil Relief Act

CFPB Monitor

On April 26, the South Carolina Servicemembers Civil Relief Act (the “Act”) was signed into law and went into immediate effect. The Act expands servicemember protections in a few important ways: the Act’s definition of “military service” covers members of the South Carolina National Guard who are on active duty (as defined by the statute) for a period of more than 30 days; the Act’s protections extend to dependents of servicemembers engaged in military service; and.

Why PayPal just deposited $50 million in a small South Carolina bank

Payments Source

"It's on-demand capital for us," Optus Bank's CEO says of the payment company's deposit. The funds are part of PayPal's broader effort to confront race and income inequality. Diversity and equality Fintech Digital payments Black Lives Matter Community banking Coronavirus

Pandemic leads Sharonview FCU to rethink branch layout, features

American Banker

Credit unions South Carolina Branch banking

REV Federal Credit Union gears up for double merger

American Banker

Members of two smaller institutions will soon vote on whether to join South Carolina-based REV, boosting its assets by 15% and giving it a foothold in North Carolina. Credit unions M&A Growth strategies South Carolina

SC Federal’s merger wave continues

American Banker

A deal bringing Charleston County Teachers Federal Credit Union into the fold is South Carolina Federal’s third acquisition of 2020. Consolidations M&A Consumer banking South Carolina

CFPB, joined by South Carolina Dept. of Consumer Affairs and Arkansas AG, files lawsuit targeting service providers to pension advance products structured as purchases

CFPB Monitor

The CFPB filed a complaint in a South Carolina federal district court against Upstate Law Group LLC. In filing the complaint, the CFPB was joined by the South Carolina Department of Consumer Affairs (SCDCA) and the Arkansas Attorney General.

CenterState, South State plan $3.2B merger

American Banker

Community banking M&A Growth strategies South Carolina FloridaThe deal will create a bank with $34 billion in assets and operations stretching from Virginia to Florida.

Community First plans to enter Tennessee with SFB acquisition

American Banker

The South Carolina company has agreed to buy the parent of Security Federal Bank. M&A Growth strategies Community banks Tennessee South Carolina

Moving from Teller Cash Dispensers to Recycling Technology Transformed the Branch Environment at South Carolina's Largest Credit Union

ATM Marketplace

Founders Federal Credit Union prides itself on looking forward to what’s next in banking technology

CenterState, South State took parallel paths to a merger

American Banker

Florida Community banking M&A Growth strategies South CarolinaThe companies spent much of the past decade completing smaller deals that created complementary footprints in the Southeast.

CFPB settles lawsuit against companies that brokered pension advance products structured as purchases

CFPB Monitor

The CFPB and the South Carolina Department of Consumer Affairs (SCDCA) recently settled a lawsuit they filed jointly in a South Carolina federal district court in October 2019 against Performance Arbitrage Company, Inc.

Bank OZK exits another state by selling branches

American Banker

The Arkansas bank is selling two South Carolina branches to a credit union just two weeks after announcing plans to divest its branches in Alabama. Credit unions Community banking M&A Branch deals South Carolina

United Community to Buy Tidelands in South Carolina

American Banker

The deal, expected to close in the third quarter, would set United up to cross over $10 billion in assets, where it would face mandatory stress testing and caps on interchange fees, among other things. breaking_news community-banking m-a ga sc dealmaking-strategy

HCSB in South Carolina Raises $45M, Names New Chief

American Banker

HCSB Financial in Loris, S.C., said Jan Hollar would become its chief executive after a $45 million recapitalization led by Castle Creek Capital Partners. people breaking_news sc dealmaking-strategy community-banking

Banks find a cheat code to catch up on digital: Merging

American Banker

CenterState and South State are the latest regionals to announce a deal driven heavily by the need to compete with larger banks that can afford to spend more on cutting-edge technologies. Community banking M&A Digital banking Capital Florida South Carolina

SouthState Bank Offers $200 Checking Bonus In AL, FL, GA, NC, SC, VA

BankDeals

SouthState Bank is offering a $200 new checking bonus Alabama, Florida, Georgia, North Carolina, South Carolina, and Virginia now through October 16, 2021

Organizers look to open bank in western North Carolina

American Banker

Highlands Banking would be based in a community near the state's borders with Georgia and South Carolina. Capital North Carolina De novo institutions Consumer banking

Lula, Uber Eats to Provide On-Demand Convenience Store Delivery 

PYMNTS

Philadelphia-based Lula operates in New York, Maryland, Georgia, South Carolina, Massachusetts, Connecticut, Arizona and Pennsylvania.

How ‘old school personal banking’ helped turn Optus Bank around

American Banker

From 2010 to 2018 the South Carolina bank was on the FDIC's problem bank list, but in the last two years it has been profitable. Dominik Mjartan, the bank's president and CEO, explains how technology upgrades and relationship building helped it get back on track. Community banks

US Telehealth Services Gets $20M Boost for Rural, Underserved Communities

PYMNTS

million, and Medical University of South Carolina, $3.25 The federal Department of Health and Human Services is distributing nearly $20 million to three dozen organizations, nationwide, that are working to spread telehealth in rural areas.

Carolina Financial to Buy Greer Bancshares in S.C.

American Banker

Carolina Financial in Charleston, S.C., has agreed to buy Greer Bancshares in South Carolina. breaking_news community-banking m-a sc dealmaking-strategy

California Goes Back Under Lockdown

PYMNTS

Cases in Alabama, Alaska, Arkansas, Georgia, Hawaii, Idaho, Louisiana, Montana, Nevada, Oklahoma, South Carolina, Tennessee and West Virginia surged by more than 20 percent in the past week, according to Johns Hopkins. . In South Carolina, 22.3

Wells Fargo Invests In Six Black-Owned Banks To Boost Equality

PYMNTS

Wells Fargo , trying to invest more in Black-owned banks, has put equity investments into six of them thus far, according to a Monday (Feb. 8) press release.

Travel Quarantine Presents New Challenges for Your CU

New York's State of Mind

According to press reports, the quarantine currently impacts persons traveling from Alabama, Arkansas, Arizona, Florida, North Carolina, South Carolina, Utah […]. At 12:01 a.m. this morning Governor Cuomo joined the Governors of New Jersey and Connecticut in imposing a 14 day quarantine on persons entering the Tri-State area from states experiencing spikes in the COVID-19 virus.

HCSB Financial in S.C. Freed from Regulatory Order

American Banker

and the South Carolina State Board of Financial Institutions. The $381 million-asset company said its bank was no longer under a consent order with the Federal Deposit Insurance Corp. breaking_news sc community-banking

Data: Americans Were On The Road Again Over Holiday Weekend

PYMNTS

Tubing was canceled in some Texas rivers, and in South Carolina, some beaches did away with firework shows as well. United States citizens took to the road to travel for the 4th of July weekend, the surging coronavirus not deterring them, CNN reported , citing cell phone data.

Citing Racial Profiling, IBM Will No Longer Sell Face Recognition Software

PYMNTS

Timothy Scott, a South Carolina Republican, was filed after Walter Scott, an unarmed black man not related to the senator, was shot and killed in North Charleston, South Carolina in 2015 by Michael Slager, a white police officer, as the victim fled after being stopped for a faulty brake light.

First Citizens, CIT Group Merger Will Create $100B Bank

PYMNTS

The merged firm will be headquartered in Raleigh, North Carolina and will operate under the First Citizens name and NASDAQ ticker symbol FCNCA. Among other locations, operation centers will be located in New York, New Jersey, California, Nebraska, Arizona, Florida and South Carolina.

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Retailers Wary Of Opening As Some States Restart Economies

PYMNTS

are some of the large national chains noting they will not partake in the early phase of reopening in places like South Carolina and Georgia per The Wall Street Journal.

Walmart's New Insurance Brokerage To Sell Medicare Plans

PYMNTS

The retailer has been slowly entering healthcare services, running low-cost clinics in South Carolina, Georgia and Texas. As it expands upon its efforts to provide health services, Walmart is rolling out licensed insurance brokerage Walmart Insurance Services, LLC.

New York To Sunbelt State Tourists: Stay Home

PYMNTS

At the news conference, Cuomo called out several states with surging infection rates whose residents would be included in the quarantine should they travel to the Tri-State area, including Alabama, Arkansas, Arizona, Florida, North Carolina, South Carolina, Washington, Utah and Texas.

Walmart Forms Company To Sell Insurance Amid Healthcare Push

PYMNTS

The retailer has slowly been entering the healthcare services arena, running approximately 24 low-cost clinics in Texas, Georgia and South Carolina.