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Monday Express: 7 CUs in Michigan to form bank; 2 Texas insurance brokers merge

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Monday Express: 7 CUs in Michigan to form bank; 2 Texas insurance brokers merge

* U.S. Treasury Secretary Steven Mnuchin foresees the U.S. economy sustaining an at least 3% growth for the next four to five years, Reuters reports. Economists expect growth to wane to 1.8% by 2020 from around 3% this year, Bloomberg News reports.

* The Federal Open Market Committee is expected to keep their benchmark interest rate unchanged when they hold their two-day policy meeting this week, The Wall Street Journal reports.

* German lender Deutsche Bank is trimming headcount and consolidating its office space in Chicago, sources told Bloomberg News.

* Seven credit unions in Michigan applied to form a limited-purpose bank to be called Credit Union Trust, Crain's Detroit Business reports.

* Higginbotham and Sellers-Patterson Insurance merged their operations in Tyler, Texas.

* Thomson Reuters' financial and risk business will rebrand as Refinitiv once the company closes its deal with hedge fund manager Blackstone Group.

* Richard Yorke is leaving his post as COO of Wells Fargo's key wholesale business as the bank further integrates its corporate and investment banking segments, WSJ reports, citing an internal memo.

* M&T Bank Chief Strategy Officer David Stender said that a lot of companies that purchase artificial intelligence-based cybersecurity tools are not ready to adopt them, WSJ reports.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.