ING Bank FSB has completed its acquisition of ShareBuilder Corp. of Bellevue, Wash.
With the purchase the U.S. banking subsidiary of ING Holding Group NV of Amsterdam added investment options to its consumer product offerings, which also include online savings and checking accounts, certificates of deposit, mutual funds, and mortgages.
The Wilmington, Del., federal savings bank, which uses the brand ING Direct, announced the closing Nov. 19. The $220 million deal was announced this month.
Consumers tend to use the P2P apps their friends and family members prefer, and most are unlikely to switch platforms in the next year, according to a new study from J.D. Power.
The top five community banks have more than $1.2 billion in combined farm loan portfolios as of March 31, 2024.
Silvergate's former CEO and onetime chief risk officer settled allegations that they misled investors about the strength of the bank's anti-money laundering compliance program. Meanwhile, Silvergate's former CFO denied separate allegations by the SEC and vowed to defend himself in court.
Ficklin has been the CFPB's only fair lending director since 2011, establishing the office under Elizabeth Warren and pushing fair lending enforcement beyond mortgages into other financial products such as credit cards.
The court didn't rule on the merits of any regulation, but made it much easier to challenge rules governing banking.
The bank has seen positive returns expanding its national branch network, but it is contending with fraudsters who are increasingly targeting branches.
