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Management

Plus: Provident Bank merger with SB One Bank approved; shareholders approve Wayne Bank-USNY Bank merger; Charles Schwab buys USAA’s investment arm
Major appointments this month involved Discover, Wells Fargo, JP Morgan Chase, Sterling Bank & Trust, Pacific Mercantile Bank, Home Bank and Fifth Third
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
COO Brian Brooks is to take over as acting Comptroller from June 1 as Otting completes his two-and-half year term
A temporary rule change will allow the largest US lenders to expand their balance sheets further to help companies and households through the pandemic
Historically high levels of debt could lead to losses at lenders in the coming months, says a new Federal Reserve report
Leaders should be prepared to support long-term remote working in case of a second spike in virus cases, Deloitte says
Financial institutions are now quickly shifting priorities to ensure they are equipped to conduct business in a changing environment while also dealing with the effects of a health crisis
The financial services company has backed the world’s largest asset manager for 25 years
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