u.s. 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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Troubled payments startup Bolt reaches settlement in customer suit
Authentic Brands Group, which owns and licenses brands like Forever 21, has settled its lawsuit against Bolt Financial. The agreement ends months of…
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Digital credit takes a page from buy now/pay later loans
More startups are using buy now/pay later-style instant online credit approvals to streamline consumers’ access to revolving credit. The concept…
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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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Rethinking bank capital at a ‘pivotal moment’ for the Fed
Michael Barr, the Biden administration’s pick to serve as the Federal Reserve’s top regulator, said during his Senate confirmation hearing…
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Fed bans former Golden Pacific investor from banking industry
Karl K. Klessig, an investor who sought to acquire the former Golden Pacific Bancorp in Sacramento, California, was banned from…
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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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Burke & Herbert in Virginia to form holding company
Virginia’s oldest bank announced plans Wednesday to form a bank holding company. Pending regulatory approval, the 170-year-old Burke & Herbert…
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CEO of Members First Credit Union in New Hampshire to retire
Bruce Leighton, president and chief executive of Members First Credit Union in Manchester, New Hampshire, is set to retire. The…
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Crypto lobbyist will run for New York seat in House
WASHINGTON — The head of a crypto-focused trade association has decided to run for an open House seat from New…
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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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NY Green Bank’s new fund will finance clean energy in underserved areas
NY Green Bank, an investment fund for sustainable infrastructure projects, wants to ensure that disadvantaged communities across New York state…
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Used-car loans lead credit union lending surge
U.S. credit unions experienced one of the strongest recent quarters of loan growth, with used-car loans returning as a major…
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BECU chief executive retiring at end of 2022
Benson Porter, president and chief executive of Boeing Employees Credit Union in Tukwila, Washington, is stepping down after more than…
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PacWest in California signals CEO succession plan
PacWest Bancorp in Los Angeles, whose chief executive is among the longest-tenured bank leaders in the country, has unveiled a…
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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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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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CrossFirst CEO Maddox to focus on strategy, cede daily management role
After nearly 14 years directing day-to-day affairs at the Leawood, Kansas-based CrossFirst Bank, Mike Maddox is taking a step back.…
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How JPMorgan Chase is using payments data to woo merchants from fintechs
Payment firms for years have offered card data to support their business clients’ strategies, a concept JPMorgan Chase hopes to…
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6 de novos explain their tech choices
The technology options for de novo banks are plentiful and, some say, stronger than ever. “The choices have never been…
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Green Dot pays $13 million to settle lawsuit over scuttled acquisition
The prepaid card company Green Dot has paid $13 million to Republic Bank & Trust to settle a lawsuit over…
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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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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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Apple Pay Later takes key real estate in buy now/pay later market
Apple’s latest thrust into payments has the potential to be most disruptive to the banks that are already trying to…
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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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Nacha learns bigger is better for same-day ACH payments
Raising the ceiling for faster payments was like bursting a dam for Yasser Abou-Nasr, who sees a chance for Dwolla,…
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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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All together now: Regulators tout benefits of CRA revamp
WASHINGTON — Banking regulators put on a united front in defending their revamp of anti-redlining legislation in the first time…
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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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Fintechs focus on supporting people caught in the justice system
Individuals who spend time in prison can experience devastating financial consequences at every turn. They may struggle with the cost…
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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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Louisiana governor vetoes bill to allow high-cost installment loans
Louisiana Gov. John Bel Edwards has vetoed a bill that would have allowed consumer lenders to offer short-term installment loans…
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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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The U.S. lags in financial regulation addressing climate change
Central banks and regulatory authorities are progressively integrating climate risks into their activities. The Network for Greening the Financial System…
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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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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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CFPB proposal aims to curb bias in automated appraisals
Combating appraisal bias has been a priority of the Biden administration, which convened an interagency task force last year to…
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Fed’s Bullard still wants to hike rates 100 basis points by July
Federal Reserve Bank of St. Louis President James Bullard continues to back raising interest rates by 1 percentage point by…
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Market Rally Weakens On Russia-Ukraine Fears: Weekly Review
The stock market rally, already under pressure, tried to bounce but soon erased those gains amid heightened fears of a…
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Small businesses still face $28 billion of unforgiven PPP loans
Almost 350,000 loans made to small businesses in 2020 during the COVID-19 pandemic haven’t been forgiven, according to a Bloomberg…
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The EV Giant Catching Up To Tesla
Tesla (TSLA) and BYD Co. (BYDDF) are both fast-growing EV giants. While a lot of attention falls on startups such…
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Portfolio Management Rules Created An Investing Champion
This week on the Investing with IBD podcast, George Tkaczuk joins the show. Tkaczuk is a portfolio manager at RCM…
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Compounding Profits And Reducing Drawdowns In FAS Stock
The 10-year treasury yield may be off its 2020 lows but it’s still low by historic standards. But when it…
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Ehang Holdings Ltd Joins Rank Of Stocks With RS Ratings Over 90
Ehang Holdings Ltd Cl A (EH) had its Relative Strength (RS) Rating upgraded from 90 to 93 Monday. X As…
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Coinbase, Circle to move all USDC reserves into cash, Treasuries
A consortium including Coinbase Global said all the reserves of the second-largest cryptocurrency stablecoin will shift into cash and short-term…
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Cisco Stock Awaits Earnings Report Amid Supply Chain Worries
Amid worries over supply chain constraints impacting its hardware business, Cisco Systems (CSCO) reports fiscal fourth-quarter earnings after the market…
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SBA gives banks a break on PPP loan forgiveness
The Small Business Administration will allow borrowers with Paycheck Protection Program loans of $150,000 or less to apply online for…
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When To Buy Growth Stocks: Flat Base, Square Box Show Bullish Action |
Good things, they say, come in small packages. That can be true for chart patterns, too. One example: the square-box…
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