The Latest

Banks and credit unions that use Individual Taxpayer Identification Numbers to onboard customers without Social Security numbers are seeing sizable growth in loans and deposits from people who might otherwise be unbanked.

In this talk, Stephen Murphy, CEO of Genesis, will be joined by Katya Chupryna, Vice President, Citigroup to discuss how this technology is changing the technological landscape of finance, highlighting the unique needs of the financial market and outlining both the benefits and potential pitfalls when deploying low code in high stakes environments.

The niche railcar leasing unit, which the North Carolina company inherited with its acquisition of CIT, may generate roughly 25% of the combined entity's noninterest income, executives said. They vowed to slow the sale of boxcars that had been underway at CIT.

Banking and credit union regulators are expected to respond to a White House call to root out discrimination in the predominantly white appraisal business. They will likely step up enforcement and data collection, reclaiming authority long ceded to the industry's governing body.

Senate Banking Chair Sherrod Brown said Thursday he expects a Senate vote next week to confirm President Biden’s Federal Reserve nominees, though the timing may be affected by GOP opposition to Lisa Cook, who would be the first Black woman on the Board of Governors.

Deutsche Bank's wealth management business has stopped accepting new Russian clients living abroad, joining other lenders in reducing business with the country’s rich.

House Financial Services Committee Chair Maxine Waters has asked more than 30 trade associations, including banking groups, to describe how their members — company by company — have limited or ended their dealings in Russia since its invasion of Ukraine.

Canadian Imperial Bank of Commerce is managing a shortage of tech workers by training its developers in high-demand technologies including blockchain and Microsoft Azure, betting that such growth opportunities will help the lender retain current workers and attract outside talent. 

The digital payment company, which recently got back into digital assets after a multiyear hiatus, has launched a suite of merchant services and industry partnerships to support payments and risk management.

Farmers National Banc Corp. in Canfield has agreed to buy Emclaire Financial in neighboring western Pennsylvania — its first move across state lines.