Commercial banking
The small businesses said in a lawsuit that the bank used "misleading marketing and business practices" to rake in processing fees from oversized Paycheck Protection Program loans. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications.
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The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah.
March 1 -
The Canadian bank now expects loan growth in the mid-single-digit range this year, down from a high-single-digit forecast three months ago. "We're not slowing, but the economy is," one executive said.
February 28
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Toronto-Dominion Bank is on the hook for $1.2 after settling litigation over its connection to a massive Ponzi scheme, and Independent Bank Group in Texas agreed to pay $100 million. A third bank, HSBC, settled for a smaller amount.
February 27 -
Nothing demoralizes a good employee like seeing managers tolerate a bad one.
February 27 -
The rise of e-commerce during the pandemic has fueled demand for warehouse space as companies look to move their products closer to their customers. While a slight slowdown is now under way, bankers still see plenty of business ahead.
February 24 -
The arrangement is designed to benefit commercial clients of both banks that operate on multiple continents. The companies reached the arrangement as part of the recent sale of Bank of the West.
February 22 -
After months of speculation, Truist Financial has agreed to sell 20% of its insurance brokerage subsidiary to the private-equity firm Stone Point Capital for $1.95 billion. The deal was touted as a way to provide capital for expansion and increase earnings over time.
February 16 -
Banks that previously based more of their incentive compensation decisions on loan production are recalibrating this year. It is the latest sign of how competitive the deposit market has gotten.
February 12 -
Proposals submitted to several of the largest U.S. banks seek stronger commitments on reducing financing for the fossil-fuel industry and 2030 greenhouse gas emission targets.
February 2
