John Reosti

Growing income inequality is said to be a major reason most consumers plan to spend the same or less than last year on holiday shopping, and it could hurt bank and credit union revenues in the fourth quarter and present them other long-term challenges.

Credit union executives and bankers counting on a December windfall from holiday-shopping consumers are likely to be disappointed.

The National Credit Union Administration's three-member board split along party lines on Thursday in its approval of a $279.5 million operating budget for next year.

The once-distressed parent of First National Bank of Howell is on the road to recovery. For attorney Stanley Dickson, the comeback means more than a return on investment. It allowed him to save a bank that has been there for his family for over four generations.

The NCUA Board approved a $279.5 million operating budget for 2015 Thursday in a 2-to-1 vote revealing a sharp split between Mark McWatters, the lone Republican and Democratic appointees Debbie Matz and Rick Metsger.

A number of credit union and bank executives have been ignoring the National Institute of Standards and Technology's Framework for Improving Critical Infrastructure Cyber Security, waiting for the federal government to issue more definitive guidance.

ARLINGTON, Va. — A number of credit union and bank executives have been ignoring the National Institute of Standards and Technology's Framework for Improving Critical Infrastructure Cyber Security, waiting for the federal government to issue more definitive guidance.

The Connecticut company just recaptured its deferred-tax asset, which padded third-quarter earnings. Still, some observers believe Patriot National's improved health, and presence in affluent markets, could lure suitors.

ARLINGTON,Va. — NASCUS kicked off its inaugural cyber security symposium last Thursday, and judging from attendance, there will be a repeat performance next year.

Richard Davis, asked during a conference about BB&T's $2.5 billion purchase of Susquehanna Bancshares, made it clear that his company has no interest in large, out-of-market acquisitions.

The National Credit Union Administration claims a Deutsche Bank unit was negligent as a trustee overseeing mortgage-backed securities and played a role in the failure of five corporate credit unions.

WASHINGTON — The National Credit Union Administration on Monday joined a growing queue of angry investors suing Deutsche Bank National Trust Co.

Wells Fargo and Live Oak Bank were the top lenders in the Small Business Administration's 7(a) loan program, helping lead the agency program to its most successful fiscal year.

First Commonwealth of Pennsylvania, which had avoided home lending since 2005, has picked an inauspicious time to return.

The Rhode Island company had barely opened the doors of its Fairfield County mortgage office when management started getting pushed about making a bigger splash. For now, CEO Joseph MarcAurele seems content to keep one toe in the water.

Mark McWatters, the newest board member of the National Credit Union Administration, said Thursday he thinks the agency should devote more resources to combatting what he termed "garden variety fraud at smaller credit unions."

New York Community Bancorp may have put the brakes on overall balance sheet growth, but its commercial and industrial lending operation in Boston is thriving.

The $2.9 billion-asset company's third-quarter earnings more than tripled from the second quarter, which included upfront merger-related expenses, and rose 72% from a year earlier, to $5.9 million.

Concerns still remain among community bankers that examiners could push individual community banks to undergo stress tests, even if the agencies refuse to make it mandatory.

First Horizon National in Memphis, Tenn., beat analysts' estimates for a second consecutive quarter, posting net income of $45 million — 19 cents a share — paced by strong revenue growth and continued improvement in credit quality.