Business

Greensboro credit union to buy failed Chicago bank

Greensboro-based Self-Help Federal Credit Union will buy the branches and deposits of Seaway Bank & Trust, the Chicago bank that was closed by the Federal Deposit Insurance Corp. in January and sold to State Bank of Texas. Self-Help, which specializes in lending to low-income and minority customers and already owns a Chicago lender focused on Hispanics, […]

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Virgin America to launch service at Raleigh-Durham airport

Virgin America will launch service in October to San Francisco from Raleigh-Durham International Airport, the airport’s third daily nonstop flight to San Francisco.  The airport says the additional service will complement existing flights, with Virgin America scheduled to leave the airport mid-morning and provide a red-eye return flight from San Francisco International Airport. Virgin America […]

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Regulators bar Charlotte financial exec from industry ties

The Financial Industry Regulatory Authority Inc. has barred Frank Black, owner of Charlotte-based Southeast Investments N.C. Inc., after he testified falsely during an interview and provided fabricated documents relating to his firm’s office inspections, according to a FINRA hearing panel decision. Black didn’t retain business-related emails or enforce systems to achieve compliance with securities laws, the panel […]

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BAT-Reynolds deal clears U.S. antitrust hurdle

The proposed $49 billion merger between British American Tobacco and Winston-Salem-based Reynolds American Inc. has cleared U.S. antitrust hurdles. Reynolds says the waiting period relating to the deal has expired without requests for additional information by federal regulators. BAT, which holds a 42% stake in the firm, is seeking the remaining 58%. In other news, […]

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