Corporate governance

At least four pending deals have been canceled since the economy was locked down to slow the pandemic's spread. With banks' market values falling and loan-loss provisions piling up, more terminations are likely.

Texas Capital also said that Keith Cargill has stepped down as president and CEO.

The pandemic has already shown the importance of a robust tech platform for credit unions and that's only going to increase as things return to normal.

Some lenders are issuing debt and preferred stock to provide an extra buffer for credit losses. Others are preparing for growth opportunities.

The Ohio company said the decision reflects branch overlap and lower customer usage of the locations being shuttered.

Sen. Elizabeth Warren is calling on the Federal Reserve to hold corporate executives personally liable if they take bailout money intended to bolster credit markets and fail to meet all the certification requirements.

Mike Maddox will succeed George Jones on June 1.

Saul Van Beurden's team is tasked with keeping systems running during the pandemic, including driving equipment to homebound workers. Yet the bank must continue making upgrades demanded by regulators, investing in new technology and recruiting top talent, he says.

The Pittsburgh company’s sale of its stake in the asset manager yielded billions of dollars that could cushion the pandemic’s economic blow and eventually help fund a big acquisition.

The agreement comes a day after Axos Financial warned that H&R Block was ending their six-year-old partnership.

The merger between the two Corpus Christi, Texas-based institutions is expected to close this summer.

The Independent Community Bankers of America would not rule out legal action if Congress doesn't address the National Credit Union Administration's recent decision expanding the low-income designation.

The Georgia-based credit union hopes to gain more flexibility to widen its field of membership by switching from a federal charter.

C&NW Proviso, which has no website or online services, will gain a slate of new products and additional locations from the deal.

The Pittsburgh company has owned a 22% position in the money manager since 1995.

The Summerville, S.C.-based institution will also close two branches as part of a broader strategic effort to better service members.

Institutions need to think about revenue streams and portfolio diversification as the coronavirus affects much of the U.S. economy.

Members of West York Area School District Employees Federal Credit Union approved the merger into First Capital, and the deal is expected to close this summer.

Local 229 IBEW Federal Credit Union, which had less than $2 million in assets, has merged into White Rose Credit Union.

The Independent Community Bankers of America accused the National Credit Union Administration of using the coronavirus to usher in additional changes without the normal amount of scrutiny.