Bank News: Material financial risks, M&A, quieter Fed, Clarity Act, & RTP!

Bank News: Gulf Winds Credit Union agreed to acquire Madison County Community Bank. Terms of the deal were not disclosed. Valley National Bank agreed to acquire Providence Financial Corp. for $247 million. First Financial Corp. agreed to acquire First Illinois Corp. for $111.3 million. OCC and FDIC issued a final rule that formally defines “unsafe and unsound practices” and establishes uniform standards around matters requiring attention. Kevin Warsh pushes for a ‘quieter Fed’ in first Jackson Hole speech. VALT bank receives conditional approval for a bank charter from the FDIC. ICBA CEO says there is no middle ground on closing the loophole for stablecoin in the Clarity Act. RTP networking is getting ready for international payments with BNY. Trump lawyers not happy with Capital One. Cashmere Valley Bank names a new CEO. This episode reviewed multiple articles from Banking Dive.