Carver Bancorp in New York is facing a proxy challenge from a big investor. Dream Chasers Capital Group, which owned about 9.7% of Carver's outstanding stock, said in a press release that it had nominated two individuals to run for board seats at the company's Dec. 12 annual meeting. Jeff Anderson is a former chief financial officer of JPMorgan Chase's northeast region retail banking organization, while Jeffrey Bailey, CEO of

Florida’s Office of Financial Regulation placed Alliance Credit Union of Florida in Gainesville into conservatorship. The National Credit Union Administration was appointed as the conservator for the $59 million credit union, which has about 5,400 members. Alliance Credit Union of Florida serves people who live or work in Florida's Alachua, Bradford, Gilchrist, Levy and Union counties.

DCFU Financial in Dearborn, Mich., has agreed to buy Winter Park National Bank in Winter Park, Fla. The $7 billion-asset credit union said in a press released that Winter Park would be its third acquisition in Florida. The price wasn’t disclosed. “We are thrilled to announce this acquisition and deepen our commitment to serving the communities in Florida,” Ryan Goldberg, the credit union's president and CEO, said in the release.

Valley National Bancorp in New York is planning to raise $400 million. The $62 billion-asset company said in a press release that it will sell about 42.8 million shares of common stock at $9.35 each. Valley could sell another 6.4 million shares if there’s enough demand. The offering is expected to close on Nov. 12. Valley plans to use the proceeds for general corporate purposes and to invest in its

Shareholders at Territorial Bancorp have approved the Honolulu company's sale to Hope Bancorp in Los Angeles, thwarting an effort by an investor group to derail the deal. The $2.2 billion-asset Territorial did not disclose the percentage of shares that backed its sale. “We expect our combination with Bank of Hope to strengthen Territorial for the long term, providing many advantages for our customers and employees as we become part of

Navy Federal Credit Union in Vienna, Va., must pay $95 million to address claims by the Consumer Financial Protection Bureau that it charged illegal overdraft fees from 2017 to 2022. The CFPB ordered the $171 billion-asset Navy Federal to refund more than $80 million to consumers and pay a $15 million civil penalty to the bureau's victims relief fund. “Navy Federal illegally harvested tens of millions of dollars in junk

Alliant Credit Union in Chicago has a new leader. The $20.3 billion-asset credit union said that Dennis Devine had stepped down as CEO. Ken Schaafsma, Alliant's chief risk officer, was named interim CEO. Devine, a former KeyCorp executive, had been the credit union's CEO for the past four years. The digital-only Alliant is the nation's seventh-largest credit union.

A group has applied to form a bank in New Orleans. Organizers submitted an application to the Federal Deposit Insurance Corp. on Oct. 30 to create InclusiveBANK. The application wasn't immediately available. A public notice tied to the application lists eight organizers: Henry Coaxum Jr., Caroline Fayard, Srinivas Kata, Beverly Matheney, Russell Russo, Allison Young, Robert Matheney and Kimberly Dao Russo.