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M&A
The Federal Reserve Board has approved the deal, one of the biggest transactions completed this year so far
Large credit unions are going outside of their remit to buy up smaller banks without sufficient scrutiny, the association has argued
The merger was delayed due to the impact of COVID-19, but is now expected to complete this year
Schwab announced its plan to buy TD Ameritrade late last year, prompting the DOJ’s Antitrust Division to launch an investigation
The COVID-19 pandemic is likely to set back merger and acquisition (M&A) plans in the US banking sector at least in the short term
Southern California Bancorp’s acquisition of CalWest Bank was postponed after shareholders initially rejected the proposal
Banks based in California, Michigan, Ohio, Louisiana and Florida have been added to the Nasdaq index of community institutions
Plus: Provident Bank merger with SB One Bank approved; shareholders approve Wayne Bank-USNY Bank merger; Charles Schwab buys USAA’s investment arm
The impact of the COVID-19 pandemic has heavily impacted the two banks’ plans to combine operations
Also, Cambridge Bank has received regulatory approvals for its delayed purchase of Wellesley Bank
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