This week's most read content includes features on three bank deals, and an article on regulators' actions against U.S. Bancorp over its Bank Secrecy Act and anti-money laundering issues.
With no exit in sight, Mechanics Bank inks 3rd deal
Scott Valley Bank offers Mechanics attractive, low-cost deposits and a similar clientele to Mechanics, Mechanics President and CEO John DeCero said.
Regulators hit US Bancorp over BSA/AML compliance
The company received fines of $75 million from the OCC, $185 million from FinCEN and $15 million from the Federal Reserve. It was ordered to forfeit $528 million by the U.S. Justice Department.
JPMorgan Chase to expand in Boston, Philadelphia, Washington DC
The largest bank in the country plans to set up branches in three metropolitan areas where it currently does not have a presence.
Popular in $1.7B deal for Wells Fargo's Puerto Rican auto finance biz
The $1.7 billion reflects an aggregate 4.5% discount on the assets to be acquired, according to the press release.
Pacific Premier to further bulk up in Los Angeles with Grandpoint acquisition
The acquisitive Pacific Premier Bancorp Inc. aims to bolster its business lending platforms in Greater Los Angeles and leap over the important $10 billion-asset threshold with its planned $641.2 million acquisition of Grandpoint Capital Inc.