daily banking news
- Banking
After 50 years, a new mutual bank will launch
Organizers of what would be the nation’s first de novo mutual bank in half a century say they’re nearly ready…
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U.S. announces first quantum-proof encryption recommendation
In the race between quantum computing and quantum-proof encryption, encryption crossed a major checkpoint on Tuesday — a win for…
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Trial for ex-JPMorgan bankers could signal new tactic against white-collar crime
A rare courtroom trial for a team of former JPMorgan Chase bankers starting this week is being closely watched for…
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Banks, fintechs help borrowers navigate student loan changes
A tangle of student loan policy changes can confuse borrowers but is an opportunity for banks and fintechs. The pause…
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Columbia Bank pushes its business lending unit into Utah
Columbia Banking System, which is nearing the completion of a merger with Umpqua Holdings that would create a $50 billion…
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What banks, credit unions can learn from VyStar-Heritage merger’s demise
VyStar and Heritage Southeast Bank had delayed the closing of their merger deal three times as they sought approval from…
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Automation turns around Washington credit union’s loan program
America’s Credit Union’s decision to automate its direct lending system has paid off dramatically — the lender went from $1.97 million…
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How an Arizona credit union plans to support local businesses equitably
Arizona requires that procurements of less than or equal to $100,000 will be offered, if practical, solely to small businesses…
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Banking as a service has steep risks as well as rewards
Banking-as-a-service is the fastest growing division at Evolve Bank & Trust in Jonesboro, Arkansas. Kristen Kines, business development officer at…
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VyStar Credit Union calls off purchase of Heritage Southeast Bank
VyStar Credit Union in Jacksonville, Florida, has officially terminated its deal to acquire Heritage Southeast Bank in Jonesboro, Georgia. The…
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Why the ‘war for talent’ will last
Earlier this year, Santa Cruz County Bank decided that its marketing department, which normally would concentrate on attracting new clients,…
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CEO of Discovery Federal Credit Union in Pennsylvania to retire
Edwin L. Williams, longtime president and chief executive of Discovery Federal Credit Union in Wyomissing, Pennsylvania, is retiring. The $181…
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Truist expands its wealth-management business into Chicago
The wealth-management arm of Truist Financial has moved into the Chicago market. With the addition of a 10-person team in…
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Hoosier Hills, Dearborn County credit unions in Indiana merging
Hoosier Hills Credit Union in Bedford, Indiana, and Dearborn County Federal Credit Union in Lawrenceburg have agreed to merge. Approval…
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BlockFi, Crypto.com slash jobs as market meltdown worries swirl
Two big names in crypto are cutting jobs as the digital currency market continues to spiral downward. The crypto lending…
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More than 60% of credit unions at risk for climate-related losses: Report
Following natural disasters, credit unions traditionally step in to help members regain their footing through low-interest loans, lines of credit…
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Farmers turn to banks, fintechs to address wilting profits
Smaller farms are looking to diversify sales strategies through direct contact with local residents, which in the past meant lots…
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Banks feel fallout from Texas laws on guns, fossil fuels
Two Texas laws that bar Wall Street firms from discriminating against the firearms and fossil-fuel industries have caused some major…
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Should the Fed decide who gets a master account?
A long-running debate about which institutions can access the Federal Reserve’s services is nearing a tipping point. The question has…
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Huntington’s payments acquisition brings disbursements up to speed
Over the last five years, Huntington has made significant investments to upgrade its treasury management business, in part due to…
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State Street falls after staying mum on Credit Suisse bid report
State Street fell the most in almost two months after declining to comment on a report it’s looking to acquire…
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Two Virginia credit unions to merge ahead of CEO retirement
Arlington Community Federal Credit Union in Arlington, Virginia, has agreed to merge with neighboring InFirst Federal Credit Union in Alexandria.…
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CEO of Rhode Island’s largest credit union to retire
Gary Furtado will retire as president and CEO of Navigant Credit Union by the end of the year. The $3.2…
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Bank CEOs who got the heftiest raises last year
While most bank CEOs got pay hikes last year, the raises were bigger for some than others. KeyCorp Chief Executive…
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Fed to publish stress test results June 23
WASHINGTON — The Federal Reserve announced Monday that it will release the results of its supervisory stress tests on June…
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CEO of Sharonview Federal Credit Union in South Carolina to retire
Bill Partin, president and chief executive of Sharonview Federal Credit Union in Indian Land, South Carolina, is set to retire.…
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The dry spell is over: Arizona to get second new bank in 2022
Integro Bank is about to become the first de novo since before the financial crisis to open in Phoenix. It…
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Bank regulators need to overhaul their digital capacity
The recent flood of news about cryptocurrencies, the financial performance of fintech firms, banks experimenting in the metaverse and the…
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Despite challenges, CEO Fraser sticks to Citi’s turnaround plan
Citigroup CEO Jane Fraser is sticking to the megabank’s turnaround plan in the face of ongoing challenges, including potential economic…
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Longtime CEO of Upward Credit Union in California to retire
Linda White, president and chief executive of Upward Credit Union in Burlingame, California, is retiring. The $100 million-asset credit union…
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Bank economists advise caution, but don’t expect a recession
The U.S. economy will slow this year and through 2024 but avoid recession, despite a cavalcade of threats that include…
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Huntington unifies its payments businesses
Shortly after acquiring cloud technology to enhance its appeal to corporate users and their customers, Huntington Bancshares reorganized its digital…
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Credit Union 1, NuMark Credit Union buying Illinois banks
Two Illinois-based community banks have entered deals to be acquired by credit unions in the past three days. On Friday,…
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Huntington finds big a big appetite for small-dollar business loans
In January, after more than two years of selling Italian Ice out of a food cart at Columbus, Ohio-area malls,…
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Tennessee ruling on credit union-bank deal sets tone for other states
A Tennessee judge lifted a temporary injunction that had blocked Orion Federal Credit Union’s acquisition of Financial Federal Bank, enabling…
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Goldman pushes to keep executive names hidden in gender suit
Goldman Sachs Group and its former female employees who sued the company in one of Wall Street’s biggest gender discrimination…
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First City Credit Union in California hires new CEO
First City Credit Union in Altadena, California, named Nav Khanna as its new president and CEO. Khanna succeeds Jim Miller,…
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Dimon fires back after shareholders vote down his pay package
Jamie Dimon had harsh words Wednesday for institutional investors who vote on corporate matters based on the recommendations of proxy…
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Google-backed startup debuts credit card with merchant rewards
Tandym, a digital private-label credit card issuer, launched Wednesday backed by $60 million in venture capital funding, aiming to help…
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Judge appoints custodian to oversee embattled Republic First
Citing what he termed “destructive conduct” by warring factions on the bank’s board, a federal district court judge has appointed…
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NCUA banned three former credit union employees in May
The National Credit Union Administration has barred three more former credit union employees from participating in the affairs of any…
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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…
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Banks bid for viral fame with videos and influencers on Instagram
Julie Waddle did not expect her video about Venmo to go viral. The digital marketing manager at FNB Community Bank…
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Apple drops Discover, adds Visa, as virtual debit card partner
As Apple prepares to build out contactless payment acceptance via iPhones, the company has switched to Visa from Discover as…
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Inspirational Quotes: Anne Chow, Andrew Carnegie And Others
Read inspirational quotes about acknowledging your faults, finding inspiring goals and being patient for good things to happen. X Anne Chow…
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Advisors Plop Down The Welcome Mat To Impress Prospective Clients
New advisors often think they need to showcase their technical expertise to convert prospects into clients. That leads them into…
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Diabetes Giant Snags A New Win After A Pandemic-Tied Delay
European officials approved Dexcom‘s (DXCM) newest body-worn diabetes device on Monday, leading Dexcom stock to surge closer to its 50-day…
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Community groups withhold support of U.S. Bank-Union Bank deal — for now
Key community groups told regulators Tuesday that they aren’t yet supportive of U.S. Bancorp’s pending acquisition of MUFG Union Bank,…
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Dow Jones Falls As Ukraine Fighting Continues; 3 Defense Stocks Pass Buy Points; Tesla Surges After This
The Dow Jones Industrial Average fell as fighting continued to rage in Ukraine despite peace talks with Russia. Defense stocks…
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FHFA issues final rule for Fannie Mae, Freddie Mac capital plan
The Federal Housing Finance Agency has finalized amendments to its enterprise regulatory capital framework, largely confirming proposed modifications that encourage…
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