VWF Bancorp in Van Wert, Ohio, will soon have a new CEO. The company said in a press release that Robert Slusser will also become its president and join its board on July 14. He will also serve as president and CEO of VWF unit GreenWay Bank. Slusser, who was market president for Fort Wayne, Ind., at F&M Bank, will succeed Michael Cahill, who is retiring.

Stripe has received approval to charter a Georgia merchant acquirer limited purpose bank. Having an MALPB lets a company that is largely engaged in processing credit and debit card transactions for businesses directly access major payment card networks. The charter makes is easier for Stripe to process card payments without having to rely on a traditional bank partner. The newly obtained charter does not allow Stripe to offer bank accounts,

The Consumer Financial Protection Bureau terminated an order against Fay Servicing. The CFPB said that the mortgage servicer had fulfilled several obligations, including paying a $2 million civil penalty and paying $3 million to the bureau to address consumer restitution. The CFPB will distribute the amount to consumers “consistent with the terms of the order.”

The Consumer Financial Protection Bureau has terminated an overdraft fee-related consent order against Navy Federal Credit Union. The CFPB, which hit the Vienna, Va., credit union with the order in November, also waived any alleged non-compliance. The order included a more than $95 million penalty for “illegal surprise overdraft fees,” including a $15 million civil penalty of $15 million and a mandate to refund $80 million in illegally paid overdraft

Investar Holding in Baton Rouge, La., has agreed to buy Wichita Falls Bancshares in Wichita Falls, Texas. The $2.7 billion-asset Investor said in a press release that it will pay $83.6 million in cash and stock for the $1.6 billion-asset Wichita Falls. The deal, which is expected to close in the fourth quarter, priced Wichita Falls at 88.8% of its tangible book value. Investar also announced a private placement of

Stablecoin issuer Circle has applied with the Office of the Comptroller of the Currency to create a national trust bank. The proposed First National Digital Currency Bank would, among other things, oversee Circle's USDC reserve on behalf of its U.S. issuer. If the application is approved, First National Digital Currency Bank would be allowed to operate as a federally regulated trust institution. Circle also said that the charter would also

The Bancorp in Wilmington, Del., could be facing a fight to reclaim $3 million tied to a terminated real estate sale. The company had previously agreed to sell a real estate bridge lending asset, primarily comprised of an apartment complex valued at $42.9 million on June 30. The Bancorp terminated the contract on June 24 and requested the return of $3 million of earnest money deposits held in escrow. The

Millennium Bancshares in Chattanooga, Tenn., has agreed to buy North Georgia Community Financial Partners in Calhoun. The $528 million-asset Millennium Bank, which is owned by the DeFoor family, applied with the Federal Deposit Insurance Corp. on June 26 to buy the $267 million-asset North Georgia National Bank. The deal is expected to close in the fourth quarter. The price wasn't disclosed. “This partnership represents a significant milestone in our growth