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The Wednesday Express: North American financials


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The Wednesday Express: North American financials

* The Federal Reserve KeyCorp's acquisition of FirstNiagara Financial Group Inc. The deal, which had faced some politicalopposition and questions about market concentration, is expected to becompleted on or about Aug. 1.

* The Illinois Department of Insurance is seeking therehabilitation ofLand of Lincoln Mutual Health Insurance Co. after the Centers for Medicare andMedicaid Services did not allow the suspension of the co-op's federal riskadjustment program liability.

* The Federal Home Loan Bank of San Francisco enteredinto a settlement agreement with certain defendants in connection with itsprivate-label mortgage-backed securities litigation for .

* ValueAct agreed to pay $11million to settle allegationsthat certain ValueAct entities violated the reporting and waiting periodrequirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

* Fitch Ratings affirmedthe ratings of Bank of New York Mellon Corp., State Street Corp. and NorthernTrust Corp.

* Miami Lakes, Fla.-based BankUnited NA its small businessfinance business into Washington, Ohio and Wisconsin, as well as additionalparts of Florida.

* Michigan City, Ind.-based Horizon Bancorp isacquiring Attica,Ind.-based CNB Bancorp.

* Online lender Social Finance Inc. is considering abank charter as itplans to offer other financial services, TheWall Street Journal reports.

* Jeffrey Kelly, who serves as CFO and COO ofRenaissanceRe Holdings Ltd., is retiringeffective Sept. 15.

* Larry Damm, president and CEO of Wichita, Kan.-basedSkyward Credit Union, intends toretire at September-end, the CreditUnion Times reports.

* Portland, Ore.-based OnPoint Community Credit Unionappointed Veronica Ervin senior vice president and , and CecileMilam senior vice president and chief lending officer.

TheDaily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external linksmay require a subscription.