* In Texas, Oakwood Bank's parent company, Oakwood Bancshares, is looking to acquire Community Bank of Snyder.
* Executives from Hialeah, Fla.-based OUR MicroLending applied with the Federal Deposit Insurance Corp. to form OUR Community Bank, American Banker reports. OUR Community Bank would offer loans between $50,000 and $250,000, focusing on Hispanic and Latino customers, and would operate as a unit of OUR Bancshares.
* In an effort to cater to the growing cluster of high-net-worth individuals in Asia, JPMorgan Chase established its first trust company in Singapore. The decision comes in light of increasing family offices or private investment funds in Hong Kong and Singapore.
* Wells Fargo, which laid off about 1,000 employees from its mortgage division last year, is now looking at increasing the division's headcount to prepare for higher mortgage volumes amid the low-interest-rate environment, Reuters reports. The bank intends on hiring in Des Moines, Iowa, and Minneapolis.
* The Federal Reserve finalized its new regulatory framework for banks with at least $100 billion in assets, including an easing of liquidity requirements for regional banks and a reduction in the frequency with which some banks must submit "living wills." The Fed's final rules, which largely mirror its earlier proposals, would keep regulations mostly unchanged for the biggest U.S. banks while loosening requirements for smaller domestic banks and providing a mixed bag of measures for large foreign banks operating in the U.S.
* The Consumer Financial Protection Bureau issued a final rule related to Home Mortgage Disclosure Act requirements. It extends for two years the current temporary threshold for collecting and reporting data about open-end lines of credit under HMDA. The rule also clarifies partial exemptions from certain HMDA requirements which Congress added in the Economic Growth, Regulatory Relief, and Consumer Protection Act.
* Prudential Financial completed its acquisition of Assurance IQ for about $2.35 billion. Under the terms of the transaction, Assurance IQ became a fully owned subsidiary of Prudential at the closing of the deal.
* Managed care insurer Humana expanded its partnership with private healthcare company Accolade. The expanded partnership includes a $20 million strategic investment into Accolade from Humana.
* Data from Verisk Analytics and the American Property Casualty Insurance Association showed that private U.S. P&C insurers' surplus reached a record of $802.2 billion in the first half of 2019 as the stock market recovered from a significant downturn at the end of 2018.
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