Corporate governance

The Securities and Exchange Commission said Rule 14a-8 exceeds its statutory authority and intrudes on matters of state law. Shareholder advocacy groups, however, argue that repealing the rule could reduce transparency.

Abacus Federal Savings Bank in Chinatown scrambled to reopen in the days following the World Trade Center attacks. The exercise resulted in the bank's first disaster-recovery plan.

The deal announced Monday would diversify EverBank's higher-cost funding model, and it would accelerate WaFd's transition away from its roots as a traditional thrift.

The company last week introduced a temporary shareholder rights plan to curb any attempt by Garg to use supervoting shares and reinstall himself as CEO.

The Senate passed a federal disaster tax relief bill, the Doug LaMalfa Federal Disaster Tax Relief Certainty Act, by unanimous consent after a hold was lifted.

Zachary Carpenter, tapped to take over as Farmer Mac CEO in March 2027, will now take over the position on July 1, with Bradford Nordholm as CEO emeritus.

A credit union service organization is buying the division, which includes mortgage services provider QRL, while the seller repositions its home loan business.

Panorama Mortgage Group's channels each had a different name, and SimplyPMG reflects a new emphasis on straightforwardness, said Hector Amendola, president.

"These changes reflect adjustments we're making to ensure our staffing levels, locations and expertise align with current business needs; efficiencies we have gained through technology; and progress against our transformation work," the company said in a statement.

The merger of equals, which received a chilly reception from investors when it was announced in July, closed faster than analysts had expected.

Last year highlighted the risks for banks in lending to nondepository financial institutions. A new approach by Trump-era regulators could change the playing field.

New Jersey-based OceanFirst Financial slid in its planned $579 million acquisition of Flushing Financial just before the end of the year. The private equity firm Warburg Pincus is also participating in the transaction.

Proxy advisory firm Institutional Shareholder Services recommended approval of Fifth Third's $10.9 billion proposed acquisition of Comerica.

A senior advisor at NAIC, the association of state insurance regulators, told attendees of its fall meeting that the imminent FEMA Review Council report should answer questions about funding for disaster relief and flood insurance, as well as other related issues.

The all-stock acquisition of Mountain Commerce Bancorp in Knoxville marks the Arkansas-based company's first M&A foray since 2022.

Recent high-profile ethics violations by senior Federal Reserve officials, including new revelations concerning stock trades by former Fed Gov. Adriana Kugler, have sparked debate over the effectiveness of the central bank's oversight, even as some observers stress such cases remain rare.

The Long Island-based bank hasn't been profitable in eight quarters, but executives maintain that it's on the right path, citing more loan book diversity, lower expenses and an improved margin.