Credit unions reported one of their best months in several years for savings growth in March, with an estimated $14.2 billion of new shares pouring in, according to CUNA. The savings growth was helped substantially by a fifth Friday, normally payday, in the month, pushing up both regular shares and share drafts by 4.1% for the period. There was also strong growth for CDs (1.5%) IRAs (1.3%) and money market accounts (1.2%) for the month. Loans grew by 5% for the month, down from 1.3% for the same month a year ago, with mortgage lending continuing to lead the way.
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Rep. Andy Barr, R-Ky., is introducing a bill to establish an Office of Supervisory Appeals at each of the banking regulators and that would give banks more power over the appeals process.
32m ago -
Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
May 6 -
The Minneapolis-based company has promoted Kedia to president, a role that CEO Andy Cecere and his predecessor both held before being named to the top job.
May 6 -
The Consumer Financial Protection Bureau's overdraft proposal would set fees at $14. With fee income under attack from many sides, bankers say they would have to further restrict credit.
May 6 -
In a surprise move, the Federal Deposit Insurance Corp., Office of the Comptroller of the Currency and Federal Housing Finance Agency proposed a long-awaited rule to curb certain incentive-based pay arrangements for bank executives.
May 6 -
The $1.1 billion-asset Vibrant is working with the San Francisco-based distributed ledger development firm Metallicus through its Metal Blockchain Banking Innovation Program to examine use cases.
May 6