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The Tuesday Express: Goldman Sachs to form commodities finance team

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The Tuesday Express: Goldman Sachs to form commodities finance team

* Analysts said JPMorgan, Capital One Financial and other U.S. banks that are reportedly in talks with Amazon about partnering on a checking account-like product would allow them to gain greater access to the millennial demographic, The Wall Street Journal reports.

* Goldman Sachs is planning to create a new commodities finance team and will move its securities division staff into the investment banking division, Reuters reports, citing the company's internal memo.

* In New York, Medina Savings and Loan Association is merging into Generations Bank in a deal structured as a merger with a mutual entity.

* A group led by former Yadkin Valley Financial CEO William Long is planning to create Spirit Community Bank, which will be based in Statesville, N.C., American Banker reports.

* Credit Union of America is merging with Central Kansas CU, the Wichita (Kan.) Business Journal reports.

* Federally insured credit unions in the U.S. posted total assets of $1.38 trillion in the last quarter of 2017, up by $86 billion from the the previous year, according to a NCUA report.

* Mercer Advisors is acquiring Traust Sollus Wealth Management.

* U.S. online lender Kabbage will stop funding businesses that sell or manufacture firearms, ammunition or any form of assault-style weapons, according to a blog post signed by CEO Rob Frohwein, President Kathryn Petralia and COO Bob Sharpe.

* Arkansas is the third U.S. state to gain a waiver that would permit it to require Medicaid beneficiaries, who qualify for certain criteria, to work in exchange for receiving health benefits.

* And the U.S. Federal Emergency Management Agency is considering a potential mid-year 2018 reinsurance placement for the National Flood Insurance Program and is exploring insurance-linked securities options as part of its efforts to expand the reinsurance program it began in 2017, Artemis reports.

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