Jon Prior

A California regulator on Monday denied a lending license to the point-of-sale financier Sezzle in a detailed written decision that could have broader consequences for upstart consumer lenders.

The decision by the state’s Department of Business Oversight on an application for a lending license by Sezzle could guide fintechs and others seeking to make loans to consumers at the time of purchase.

Lenders have until the end of 2021 to phase out their use of the London interbank offered rate in setting interest rates, but ServisFirst Bancshares and its CEO Tom Broughton see little reason to wait when a replacement is already available.

PE firms have made investments in only seven banks in 2019, compared with 21 last year. Here's what's driving the slowdown.

But some industry watchers are tempering expectations, saying that the language is too vague to know for sure if China is serious about introducing more foreign competition.

Many business customers are putting off expansion because they can’t find enough workers to fill available jobs.

The percentage of farm lenders losing money hit a six-year high in the third quarter, according to the FDIC.

CEO Charlie Scharf said in a letter to Congress that a review is underway to determine how many customers were affected by confusion over monthly fees and that the bank will begin issuing refunds next year.

Many lenders are establishing a firm bottom on variable interest rates amid intense competition for commercial credits, rising deposit costs and the possibility that the Fed could take rates to unprecedented lows.

Rep. Katie Porter, D-Calif., wants details about refunding "hundreds of millions of dollars" in fees improperly charged on checking accounts. Wells has acknowledged the potential problem but hasn't estimated how much it owes.

Nearly one in four bankers said that the tech giants pose the biggest competitive threat in the long term. But are those fears warranted?

The once-acquisitive company appears ready to come off the sidelines, but will it be as a buyer or seller?

So far farm loans are holding up well, but bankers gathered at an industry conference this week said they are growing increasingly concerned that credit quality will weaken if the U.S. and China don’t reach a deal soon.

Ralph Babb had stepped down as CEO in April. Curtis Farmer, who succeeded him as chief executive, will assume the chairman's title starting next year.

Bank and other lenders are said to have poured hundreds of billions of dollars into financing private-equity firms and their investment deals in recent years. Defaults have been low, but an economic slowdown could put these relationships to the test.

The company has recruited bankers from Wells Fargo, Deutsche Bank and smaller firms to expand its corporate banking team that serves financial technology clients.

The Los Angeles bank is taking its wealth management and entertainment financing businesses to Miami and Long Island as part of its effort to expand nationally.

Midsize players like BankUnited, BOK and Fulton Financial plan to rely on selective M&A, catering to niches overlooked by big banks, aggressive recruitment of commercial lenders and other strategies to stimulate revenue growth.

The Columbus, Ga., company had been counting on increased volume to offset a squeeze in net interest margins.

The Ohio company, scheduled to report third-quarter results Thursday, blamed the decision on the squeeze interest rates are putting on revenue.