Corporate Governance

Acting Comptroller of the Currency Michael Hsu stated that the Office of the Comptroller of the Currency (OCC) has joined the Department of Justice (DOJ) and other financial regulators in plans to change bank merger rules.

The DOJ’s Antitrust Division, along with the Federal Trade Commission, began soliciting public comment on the topic earlier this year.

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The Securities and Exchange Commission (SEC) Office of Minority and Women Inclusion (OMWI) has released a report on the efforts of the SEC and regulated entities to further diversity, equity and inclusion goals.

The voluntary assessment from regulated entities showed high levels of internal initiative to foster diverse and inclusive policies and practices.

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Redwood Trust has announced it has entered into a definitive agreement to acquire Riverbend Funding and its subsidiaries in an all-cash transaction.

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The Consumer Bankers Association (CBA) has named a new president and CEO to succeed Richard Hunt, who has served the CBA since 2009.

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NYSE-owner Intercontinental Exchange has reached an agreement to acquire Black Knight. The transaction values Black Knight at $85 per share, or $13.1 billion.

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Fannie Mae’s CEO, chair of its board, and another member of its board all announced they will resign effective May 1.

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The National Credit Union Administration (NCUA), Office of Minority and Women Inclusion (OMWI) has delivered its annual report to Congress on the diversity and inclusion efforts and initiatives by NCUA through 2021.

The primary focus of OMWI has been to provide and promote actionable steps that credit unions may take to create a more inclusive environment for members and employees.

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Panorama Mortgage Group, a multi-brand national mortgage company based in Nevada, has hired a chief financial officer.

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The former president of ReverseVision, a provider of private reverse mortgage sales origination software, has moved to mortgage technology company Gateless, which offers artificial intelligence solutions to companies operating in the mortgage space.

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The Federal Deposit Insurance Corporation (FDIC) has issued a request for information and comments regarding the current state of the regulatory framework of the Bank Merger Act. The request is seeking comments on the current application of the laws, practices, rules, regulations, guidance and statements of policy that apply to FDIC-regulated institutions.

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