First Data Corp. Gets Colorado OK to Convert Industrial Bank
The upcoming acquisition of First Data Corp. by KKR required it to deal with recent changes in Colorado law affecting FDC's industrial bank, First Financial Bank. "The Colorado State Bank Board agreed to a four-part transaction that will effectively convert First Data's industrial bank, First Financial Bank, into a non-depository trust called First Data Trust Co. LLC."
Separately, First Data reported second quarter financial results earlier today.
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