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.

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

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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.

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

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

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. The complaint also includes a count brought only by the SCDCA alleging the defendants violated the South Carolina Consumer Protection Code by engaging in unconscionable debt collection.

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.

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

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.

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

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

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

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.

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 The number of coronavirus cases in the U.S. surpassed 3.3 million on Monday (July 13) as the nation’s death toll exceeded 135,000, according to Johns Hopkins University.

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

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.

Groups 180

Data: Americans Were On The Road Again Over Holiday Weekend

PYMNTS

Cuebiq’s data focused on the visitor totals to and from 10 metro area hotspots, chronicled from a week before July 4, 2020, according to CNN, including the Houston; Austin, Texas; Phoenix; Dallas; San Antonio; Orlando; Tampa, Florida; Charleston, South Carolina; Miami; and Atlanta areas, ranked by the number of positive coronavirus tests a week before the holiday.

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. International Business Machines Corp. IBM) is getting out of the facial recognition business, citing its misuse by law enforcement.

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.

CORO Global Brings Gold Payment App To Alabama

PYMNTS

With the approval in Alabama, CORO is now available in the Apple App Store and Google Play store to residents in 13 states: Florida, Alabama, Arizona, Arkansas, Alaska, Delaware, Idaho, Montana, Massachusetts, Oregon, South Carolina, Washington State and Wisconsin.

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. The governor of South Carolina let retail stores start operations again this week at one-fifth of usual capacity or five people for each 1,000 square feet.

Will the Last CertusBank Employee Please Turn Off the Lights?

American Banker

Lola Hart, who oversaw the liquidation of the controversial CertusBank in South Carolina, has been hired as the chief accounting officer of Entegra Financial in Franklin, N.C. breaking_news consumer-finance dealmaking-strategy strategic-alternatives nc community-banking

Last Labor Report Before Election Shows Drop In US Jobless Claims

PYMNTS

Seasonally adjusted initial unemployment claims dipped to 751,000 the week ending Oct. 24, some 40,000 lower than the previous week's revised levels, according to the Thursday (Oct. 29) report from the U.S. Department of Labor (DOL). The previous week's revised level was upped 4,000 from 787,000 to 791,000. The seasonally adjusted insured unemployment rate dropped 0.5 percent from the previous week's revised rate to 5.3 percent for the week ending Oct. The previous week's rate was revised from 5.8

ABA Chairman Blanton's Bank to Sell for $335 Million

American Banker

South State in South Carolina has agreed to buy Southeastern Bank Financial in Georgia, which is run by Daniel Blanton, the chairman of the American Bankers Association. community-banking m-a consolidation sc ga dealmaking-strategy

When Does An Employee’s Post Go Too Far?

New York's State of Mind

That is the question I have been asking myself since reading this article in the CU Times reporting that MTC Federal Credit Union based in Greenville, South Carolina fired one of its loan officers […]. How much can you, or should you, discipline employees for comments they make on their own social media accounts, like Facebook?

Report Shows US Small Towns Lost 14 Pct Of Banks Between 2012-17

PYMNTS

Allendale, South Carolina, a modest but previously healthy small town, has felt the economic pain of losing multiple bank branches. In addition to crime, student test scores in 2017 were so low that South Carolina’s education superintendent declared a state of emergency and took over the school district.

Walmart Expands Healthcare Services

PYMNTS

Walmart has been making moves in the healthcare field for some time, including opening clinics in Georgia, Texas, South Carolina, Florida and Arkansas.

Publix Debuts Personalized Membership Program With Mobile Payment

PYMNTS

Florida-based Publix has more than 1,200 locations in Florida, Georgia, Alabama, South Carolina, North Carolina, Virginia and Tennessee. To provide a personalized experience to its shoppers, Publix is debuting its Club Publix membership program, according to announcement. Current holders of accounts at publix.com will be enrolled in the offering automatically, while others can join the program by web, text or app. “We’re

CFPB and Colorado Attorney General announce joint virtual office hours as part of AFCIN

CFPB Monitor

The CFPB and the Colorado AG’s Office have announced they will hold joint virtual office hours as part of the American Consumer Financial Innovation Network (ACFIN). The joint virtual office hours will be held on December 2, 2020. CFPB Director Kathleen L.

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. As it grows its healthcare offerings beyond low-cost clinics and technology to help patients manage their medications, Walmart has formed a new company to sell insurance policies called Walmart Insurance Services LLC.

Companies Buy Time To Pay On Imports By Using Slower Shipping

PYMNTS

I’ve heard people having containers literally on the dock in China and then saying they don’t want it,” said James Newsome, CEO of the South Carolina Ports Authority, FT reported. In any other economy, companies that order products overseas want fast shipment. Not anymore, according to the Financial Times (FT). The coronavirus pandemic has turned everything around, and merchants will do anything, even pay more, to slow shipments down.