British fintech unicorn OakNorth acquires US community bank

City A.M.

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OakNorth, the British digital banking unicorn, has acquired a US community bank as it eyes overseas expansion.  The firm announced on Monday it had agreed on a stock-for-stock transaction for Michigan-based Community Unity Bank (CUB).  The acquisition is subject to regulatory approval and follows the Federal Reserve and New York State Department of Financial Services [...]

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