Corporate governance

Bank of America’s employee-funded political action committee is putting its allocation decisions on hold after a right-wing mob stormed the U.S. Capitol last week.

Flush with excess capital, Bank of Montreal, TD Bank and others say they might be in the market to do a cross-border deal.

Bank stocks have climbed because of expectations that the change of power in Washington will hasten vaccine distribution and speed the economic recovery. The boost could give executives more flexibility to pursue acquisitions or make other strategic moves.

Following similar decisions by big banks, the Consumer Bankers Association and Mortgage Bankers Association said they will halt all political contributions to elected officials as some lawmakers face harsh criticism for comments that incited the storming of the U.S. Capitol.

In a letter to credit unions, NCUA urged federally chartered shops to expand their fields of membership to underserved areas, regardless of geography, in order to boost financial inclusion in the wake of the pandemic.

Discussions to combine Penobscot County Federal Credit Union and The County FCU began in June 2019 but the deal was not completed until the end of 2020.

HoldCo Asset Management wants more details about the banking company’s pending merger with SVB Financial. The shareholder's concerns center on payouts to the seller's management team and questions about the sale process.

The combined institution will hold roughly $30 million in assets and serve about 4,000 members.

The multifamily lender named Michael Levine as board chairman, succeeding Dominick Ciampa, who held the role for 10 years. The move comes less than a week after longtime CEO Joseph Ficalora abruptly retired and was replaced by Thomas Cangemi.

If you haven't met Suzanne Shank you should. She is the chair and CEO of Siebert Williams Shank & Co. LLC, the nation’s largest female-and minority-owned, privately held finance firm, which she started with the legendary Muriel Siebert. Join us in an intimate conversation and hear her perspective on some of the most critical issues of the day.