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Not-for-profit financial firms have acquired a record number of banks since last year

Wall Street Journal: Credit Unions Go On Bank Buying Spree

News & Insights

Not-for-profit financial firms have acquired a record number of banks since last year

Lalita Clozel of the Wall Street Journal reports:

WASHINGTON—Credit unions are buying small banks in record numbers, a trend that is prompting pushback from the banking industry.

Credit unions have acquired 21 U.S. banks since 2018, according to S&P Global Market Intelligence, compared with 12 purchases in the prior five years.

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