* Texas-based Happy Bancshares agreed to purchase and assume the operations of Centennial Bank and its holding company Commerce BancShares, which will become part of Happy State Bank. The transaction is expected to close in the first quarter of 2020.
* Coinbase's cryptocurrency storage solution, Coinbase Custody, closed its acquisition of Xapo's institutional businesses. Coinbase reportedly spent $55 million in the deal, which brings Coinbase's crypto assets under management to more than $7 billion, according to a Fortune report.
* U.S. President Donald Trump contacted JPMorgan Chase's Jamie Dimon, Bank of America's Brian Moynihan and Citigroup's Michael Corbat to ask about the state of the U.S. consumer after stock markets plunged Aug. 14 when the yield curve inverted, sources told CNBC. JPMorgan is organizing a conference call to brief clients on systemic flows and liquidity dynamics, among other things related to volatility in the equity markets, Reuters reports.
* The U.S. Securities and Exchange Commission charged Cantor Fitzgerald and BMO Capital Markets with improperly handling pre-released American Depositary Receipts, or ADRs. The regulator had claimed that both companies obtained pre-released ADRs, which are U.S. securities that represent shares in a foreign-listed company, "when they should have known that the pre-release transactions were not backed by foreign shares."
* Goldman Sachs has tasked Chetan Jethwani to observe through a watching brief former Malaysian Prime Minister Najib Razak's second 1MDB trial, Bloomberg News reports. The Malaysian government recently charged 17 former and current Goldman directors over their alleged roles to the controversial state fund scam.
* Grand Forks, N.D.-based Alerus Financial filed a registration statement for a proposed IPO of its common stock, with a proposed maximum aggregate offering price of $75 million.
* On the insurance front, private equity firm Centerbridge Partners is close to clinching a deal to acquire a majority stake in GoHealth, Reuters reports. The deal could value the U.S. online health insurance marketplace at about $1.5 billion.
* The Centers for Medicare and Medicaid Services approved a healthcare reinsurance program in the state of Montana. Montana's state auditor said managed care companies have reacted to the Montana Reinsurance Program by proposing to lower individual market health insurance rates for the 2020 plan year.
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