Principal Sells $200 Million in Deposits to Limit Banking Role
Stock Chart for Principal Financial Group Inc (PFG)
Principal Financial Group Inc., the seller of life insurance and retirement products, agreed to sell $200 million of deposits to BofI Holding Inc. as part of an effort to limit its role in banking amid greater U.S. oversight.
The deal includes funds from individual checking accounts and certificates of deposit, BofI said today in a regulatory filing that didn’t disclose terms.
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