US Bancorp gets US regulatory approval for MUFG Union Bank acquisition
The firm has received approval from the Federal Reserve and the Office of the Comptroller of the Currency (OCC).
The firm has received approval from the Federal Reserve and the Office of the Comptroller of the Currency (OCC).
The deal is expected to close before the end of the year.
Bank is blaming changing customer behaviour for the need to downsize.
Anti-money laundering activities not noticed due to a lack of staff and resources.
US Bancorp, Macquarie and JP Morgan are understood to be in the “leave” camp as they have opted out of the upcoming fundraising effort of the R3 blockchain consortium.