community banking news
- Banking
Banks’ hidden role in the carbon footprints of large corporations
Many large U.S. corporations have made specific pledges to reduce their greenhouse-gas emissions as part of the fight against climate…
Read More » - Banking
Black caucus ups pressure on Biden to cancel student debt
The Congressional Black Caucus is requesting a meeting with President Biden to press the case that canceling student-loan debt is…
Read More » - Banking
Truist’s Daryl Bible to retire, search begins for new CFO
Truist Financial will conduct a search for a new chief financial officer after Daryl Bible, who has served in the…
Read More » - Banking
Agility Bank founder raves about the tech benefits of starting from scratch
As she designed and built a new bank that will launch Monday, Lauren Sparks was careful not to overly rely…
Read More » - Banking
From superstore to super app: Walmart’s next steps in finance
To date, Walmart’s approach to financial services has been like its approach to running a superstore: Whatever you need, it’s…
Read More » - Banking
Credit card balances grew in April at fastest rate in 26 years
Two years after massive cash buffers helped many U.S. consumers pay down their debts, credit card balances are back. In…
Read More » - Banking
Two years after PPP, small businesses still struggle to access capital
More than four in 10 small business owners doubt they would be able to cover an unexpected $5,000 expense, and…
Read More » - Banking
Gerald Corrigan, who gained fame as a troubleshooter for the Fed, dies
Gerald Corrigan, who spent a quarter century at the Federal Reserve, including an eight-year stint as president of the Federal…
Read More » - Banking
Fed nominee Barr ‘well positioned’ for confirmation after Senate hearing
WASHINGTON — Michael Barr, the Biden administration’s second pick to become the Federal Reserve’s chief banking regulator, faced little resistance…
Read More » - Banking
7 data breach reporting rules banks need to understand
On May 1, the protocols U.S. financial institutions must follow after a cybersecurity breach changed, and more changes are still…
Read More » - Banking
Women-owned bank to open in Houston
Agility Bank will open its doors in Houston next week as a Minority Depository Institution primarily owned and led by…
Read More » - Banking
Former regulators say CFPB is ‘no longer sleeping’ on payments
For years, there were usually less than a handful of cases at the Consumer Financial Protection Bureau that involved payments.…
Read More » - Banking
Vernon Hill sues Republic First after ouster as chairman
Vernon Hill is not going down without a fight. The death last week of an ally among Republic First Bancorp’s…
Read More » - Banking
Goldman Sachs report shows bank is losing senior Black women
Goldman Sachs Group is losing its most powerful Black women, according to new data the firm released in a report on its…
Read More » - Banking
Beware the Fed’s heavy hand in proposed CRA reforms
What is billed as an interagency Community Reinvestment Act reform proposal is really the heavy-handed handiwork of the Federal Reserve,…
Read More » - Banking
In-person or remote work? Two payments leaders weigh in.
As the pandemic ebbs and flows, various financial institutions and payment companies are making very different decisions about whether to…
Read More » - Banking
Top-performing U.S. community bank shows value of revenue diversification
Oregon Bancorp once again finds itself in a familiar perch: atop a key ranking of community lenders. For the fourth consecutive…
Read More » - Banking
Regulators plan public hearings on TD, BMO deals
Federal regulators on Tuesday scheduled public hearings on two large bank mergers — a move that indicates they are opting…
Read More » - Banking
John Ryan, fierce defender of dual banking system, is dead at 58
John Ryan, a passionate defender of the dual banking system and a driving force as the president and chief executive…
Read More » - Banking
Fintech firm Q2 is weighing options after takeover interest
Q2 Holdings, a banking-software provider, is weighing options including a sale after receiving takeover interest, according to people familiar with…
Read More » - Banking
Mastercard begins facial-recognition rollout with retailers
Mastercard has begun to trial a biometric payment system for brick-and-mortar stores, using facial recognition rather than contactless cards, smartphones…
Read More » - Banking
Dimon’s big pay package gets thumbs-down from JPMorgan shareholders
JPMorgan Chase’s shareholders voiced strong discontent Tuesday with the company’s most recent executive compensation packages, which included a one-time award…
Read More » - Banking
FDIC, CFPB target crypto firms that make false claims of deposit insurance
Two financial regulatory agencies are threatening to crack down on cryptocurrency and other fintech firms that falsely suggest their institutions…
Read More » - Banking
Two board members resign from Los Angeles bank ahead of annual meeting
A new wave of boardroom turmoil has hit RBB Bancorp in Los Angeles two days before the $4 billion-asset company…
Read More » - Banking
Ex-FHFA Chief Calabria warns of Fannie, Freddie risk
Mark Calabria, who oversaw government-controlled mortgage giants Fannie Mae and Freddie Mac under the Trump administration, is sounding alarm bells…
Read More » - Banking
Four ways cannabis banking could cross the finish line in 2022
WASHINGTON — The legalization of cannabis banking looks as likely as ever, but the road lawmakers will take to get…
Read More » - Banking
Wells Fargo names new head of its financial advisory unit
Wells Fargo has promoted Sol Gindi to lead Wells Fargo Advisors, turning to a former JPMorgan Chase executive to lead…
Read More » - Banking
Truliant Federal Credit Union in North Carolina names diversity leader
Truliant Federal Credit Union in Winston-Salem, North Carolina, has promoted Precious Quire-McCloud to oversee the credit union’s initiatives for diversity,…
Read More » - Banking
Remote notarization is becoming a must-have offering
Notarizing documents entirely over video was a matter of safety at the beginning of the pandemic, when people were eager…
Read More » - Banking
Fintech lender on the hook for millions in fraud from one client’s losses
Like many fintechs, Grain Technologies promises financial institution partners it will stand by its product in the face of fraud,…
Read More » - Banking
Less than four years after shooting, Fifth Third faces hostage situation
Less than four years after a fatal shooting at Fifth Third Bancorp’s headquarters in Cincinnati, an armed man entered one…
Read More » - Banking
Google Wallet makes a comeback as a digital credential app
Google Wallet is coming out of retirement. Four years after Google shelved the concept so it could streamline all digital…
Read More » - Banking
Bank of Idaho to purchase five branches in Washington state
Bank of Idaho in Idaho Falls has entered into an agreement with HomeStreet Bank in Seattle to purchase five of…
Read More » - Banking
Credit card tech startup Deserve inks $250 million Goldman-led credit facility
Deserve, a credit card technology startup, said it secured a $250 million credit facility from banks led by Goldman Sachs…
Read More » - Banking
Maryland credit union service organization acquires Wisconsin CUSO
The Cockeysville, Maryland-based credit union service organization Think Stack has purchased the Milwaukee-based CUSO Emergifi. Think Stack’s acquisition of Emergifi,…
Read More » - Banking
Why 1 billion women are excluded from the financial system
In the Ukrainian refugee crisis, “women are much less likely to have identification and the proper documentation and even less…
Read More » - Banking
Banks zig in sports marketing as fintechs and crypto firms zag
Sports fans entering stadiums and arenas are being introduced to an increasingly crowded field of fintech and crypto logos, prompting…
Read More » - Banking
CFPB issues advisory opinion on fair lending laws
WASHINGTON – The Consumer Financial Protection Bureau on Monday issued an advisory opinion affirming that the federal prohibition against discrimination…
Read More » - Banking
SEC extends comment period for climate rule to June
WASHINGTON — The Securities and Exchange Commission will extend the public comment period for its landmark climate disclosure proposal by…
Read More » - Banking
How Goldman Sachs uses tech to ease supply-chain friction
As banks and technology firms flood the market with tools to modernize corporate payments, Goldman Sachs is attempting to make…
Read More » - Banking
Fed: falling market confidence, profitability among top risks for banks
WASHINGTON — Key indicators of the banking industry’s health fell to their lowest levels in more than a year during…
Read More » - Banking
Ally Financial is ready to move beyond its auto-centric past
From cars to credit cards, mortgages and investment accounts, Ally Financial is gradually trying to earn a larger share of…
Read More » - Banking
Florida credit union overhauls its fraud prevention with big assist from AI
As algorithmic techniques for fraud prevention improve, financial institutions have more and better options to stop losses in real time…
Read More » - Banking
M&T Bank names new leader for ESG initiatives
M&T Bank has named Erin Komorowski as the new head of its environmental, social and governance office, where she will…
Read More » - Banking
Caught between bankers and activists, can the CRA reform proposal make everyone happy?
WASHINGTON — Federal bank regulators moved forward on their major rewrite of the Community Reinvestment Act to wide applause from…
Read More » - Banking
Activist investor sues Republic First for delaying its annual meeting
A bitter, long-running proxy fight between two separate activist investor groups and the management of Republic First Bancorp may be…
Read More » - Banking
Bank of America upgrades its digital offerings for business clients
Bank of America has been churning out a steady stream of tools for businesses of all sizes over the last…
Read More » - Banking
Thiel-backed fintech Neo turns unicorn with $185 million funding
Peter Thiel’s Valar Ventures Management is leading a $185 million funding round for Canada’s Neo Financial Technologies, propelling it to…
Read More » - Banking
Fraud is down, but more expensive
After increases in fraud reports in 2020 and 2021, recent data suggests the fraud rate impacting a large swath of…
Read More » - Banking
What student loan forgiveness would mean for U.S. consumer lenders
The large-scale forgiveness of federal student loan debt, which President Biden could announce in the coming days, would bolster credit…
Read More »
