Polo Rocha

The Charlottesville, Virginia-based bank, which called off a merger this year after regulators raised concerns, said it "continues to cooperate" with the Office of the Comptroller of the Currency to improve its management of fintech partnerships.

The Delaware-based bank sees a particular opportunity to serve senior living communities and long-term care facilities. It has hired Kevin McKeown from Fulton Bank to run the new group.

The pending deal will help keep the Canadian bank's funding costs low, since Bank of the West has a strong core deposit portfolio, executives said Tuesday. BMO is sticking with its year-end timeline for closing the acquisition.

The Houston banks have set a new deadline of Nov. 1 to finalize their deal, marking yet example of banks' facing a longer-than-expected decision process by the Federal Reserve. CBTX's chief said last month the wait has been "very frustrating."

The new law relies partly on U.S. companies paying higher taxes to raise money for climate change and health care initiatives. Here's how banks will be affected.

The layoffs appear to be focused on the company's bank subsidiary, according to the San Antonio Express-News. USAA declined to provide any details on the job cuts.

Advances by Federal Home Loan banks hit a 15-year low last year, but commercial banks and other financial institutions are clamoring for more as loan demand has increased and deposits have ebbed. How long will the trend continue?

The COVID-19 pandemic revealed the fragility of complex global supply chains. Bankers say they are hearing from more U.S. clients who want to change that by moving manufacturing and supplier operations closer to home.

Funding constraints are a "business problem that we need to address," CEO Dave Girouard said. The online consumer lender has seen a significant drop in demand for its loans from banks and investors.

Brooks Lambertson was among three people killed during a storm Thursday in the nation's capital. The 29-year-old managed sponsorships for Los Angeles-based City National and was in Washington for business.

Late-payment rates are rising at nonbanks that lend to people with lower credit scores. "We're probably entering a stretch where you're going to see a separation between those that are relatively good underwriters and those that are not," one analyst said.

The Consumer Financial Protection Bureau is investigating some of the bank's credit card practices, including refunds, billing errors and credit bureau reporting, according to a securities filing Thursday.

The San Francisco fintech collected $1.6 billion in deposits during the second quarter after buying a small bank earlier this year. Though SoFi pays relatively high rates to its depositors, CEO Anthony Noto said the company's funding costs are far lower than they were before the bank acquisition.

Even though delinquency rates were previously at extremely low levels, the recent uptick among poorer consumers is worth monitoring, New York Fed researchers said.

The San Francisco megabank plans to reinstate guidance that drew scrutiny following revelations that women and nonwhite candidates were interviewed for jobs that had been reserved for someone else.

The San Francisco company is relying more on banks and credit unions, and its own acquisition of a bank last year, to fund its consumer lending business. The flexibility has proved helpful as demand from other loan buyers wanes.

The Federal Reserve’s aggressive tightening is putting some pricing pressure on digital banks that rely on high-yield savings accounts. But the increases are not keeping pace with the central bank’s rate hikes, and the caution may continue in the face of economic uncertainty.

The McLean, Virginia, company is starting to “trim around the edges” of its auto portfolio, CEO Richard Fairbank said. That move stands in contrast with Capital One's leaning into its credit card business, which helped push marketing spending above $1 billion.

The Detroit-based lender has been a major beneficiary of the auto market’s growth during the pandemic. Looking ahead, company executives expect demand to be particularly strong among higher-income customers who have little sensitivity to higher car prices and rising interest rates.

Investors have grown concerned that 40-year highs in inflation may take a bite out of consumers and lead to credit troubles, but Synchrony executives say consumers are continuing to manage “incredibly well.”