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Monday Express: NY CUs to merge; Illinois bank files for IPO

* Members of Postal Employees of Troy, N.Y. Federal Credit Union unanimously greenlighted a merger with CAP COM Federal Credit Union at a special meeting held Sept. 12. Postal Employees' more than 150 members will join CAP COM FCU's membership of 133,000 as part of the transaction.

* Senate Banking Committee Chair Sen. Mike Crapo, R-Idaho, is mulling a vote on a regulatory measure that would enable banks to work with cannabis businesses, POLITICO reports. While not expressing support for the removal of the federal ban on marijuana, Crapo's statement supports his previous call to resolve the banking industry issue, a stance that signaled he may be more open to working on legislation tackling marijuana banking.

* Goldman Sachs is taking JPMorgan Chase's example and adopting a similar tactic for broad stock funds to increase its exchange-traded funds market share, Bloomberg News reports. The approach, known as "bring your own assets," lets the company ride on the popularity of some ETFs by creating a similar offering and shifting their own customers' money into those products.

* Goldman Sachs is offering some partners attractive payouts to encourage them to leave as CEO David Solomon looks to trim the number of executives named to the firm's partnership, sources for Business Insider say.

* The Federal Housing Finance Agency announced a revised cap structure on the multifamily businesses of Fannie Mae and Freddie Mac. The new multifamily loan purchase caps will be $100 billion for each government-sponsored enterprise for the five-quarter period from the fourth quarter of 2019 to the fourth quarter of 2020.

* The U.S. government is looking to pursue charges against senior JPMorgan executives as part of its investigation into commodities market manipulation with the help of those who already pleaded guilty, sources told Bloomberg News. Investigators are drawing on testimony from former insiders as well as reviewing a paper trail related to the spoofing activities, according to the report.

* Bloomington, Ill.-based HBT Financial, formerly known as Heartland Bancorp, filed a registration statement for a proposed IPO of its common stock. The proposed maximum aggregate offering price is $100 million.

* Insured losses on the U.S. mainland from Hurricane Dorian are likely to cost between $500 million and $1.5 billion, catastrophe risk modeling company Risk Management Solutions estimated. The estimated losses reflect property damage and business interruption to residential, commercial, industrial, and automobile lines of business caused by wind and storm surge.

* U.K.-based Davies Group acquired Independence, Ohio-headquartered independent claims adjusting provider Frontier Adjusters.

* The Connecticut Insurance Department approved an average increase of 3.65% for individual plans and 9.19% for small group plans for the 2020 coverage year. The average requests were 7.78% for individual plans and 11.98% for small group plans.

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