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Legal briefs: 2 NJ banks issue supplemental merger disclosures

S&P Global Market Intelligence rounds up a selection of recent legal and regulatory developments in the bank space.

1st Constitution, Shore Community agree to make supplemental merger disclosures

Cranbury, N.J.-based 1st Constitution Bancorp and Toms River, N.J.-based Shore Community Bank agreed to make supplemental disclosures related to their pending deal in order to avoid the expense and burden of litigation and to moot the allegations in connection with a complaint that seeks to stop the consummation of the transaction.


Wells Fargo still has 'substantial' work to resolve asset cap

Wells Fargo & Co. booked a significant litigation accrual in the third quarter, as executives said the bank was still working to resolve its regulatory and legal issues.


Financial regulators finalize changes to Volcker rule

All five federal financial regulators finalized revisions to a financial crisis-era rule prohibiting banks from proprietary trading.