Daily Edition

The credit union’s agreement to acquire Midwest Community Bank in Illinois follows two other bank deals it announced this year.

Maxwell, a startup that operates an online platform catering to mortgage loan officers and smaller lenders, raised $28.5 million in equity funding from investors led by the venture firm Fin VC and Wells Fargo Strategic Capital.

Piermont Bank in New York expects to double its $347 million of assets in a year by extending working capital to financial technology companies. MainStreet Bancshares in Virginia is taking a different approach, hoping a new banking-as-a-service offering will help investors see it as more cutting-edge.

UBS Group is starting a digital wealth manager in the U.S. to grab a bigger share of the country’s market for retirement savings and stock options, in a move that will pit it against the top Wall Street banks on their home turf. 

The deal pairs up two of the world’s most valuable financial technology startups.

Daily edition for October 26, 2021

Businesses trying to meet a surge in demand for consumer goods are knocking on community banks' doors to finance expansions.

The hiring of Scott Dienes, a former Wells Fargo banker, is part of a broader plan to boost lending at the Wisconsin company.

The bank is the first to offer a service from The Clearing House’s Real Time Payments network that lets businesses send bills to retail clients, who are given the option to pay them immediately.

Temenos and Mbanq created a platform to offer technology and compliance services to credit unions via application programming interfaces.

During third-quarter earnings calls, Bill Demchak of PNC raised concerns about stablecoins, while Jane Fraser of Citigroup pledged that there will be accountability for fixing her company's regulatory troubles and Jamie Dimon of JPMorgan Chase sounded downbeat about the Biden-era regulatory environment.

Mark Drinnon succeeds Beverly Boling, who retired from the CEO role in September.

The upstate New York company, which has agreed to acquire People’s United Financial in Connecticut, is the latest bank to negotiate a multibillion-dollar spending commitment with the National Community Reinvestment Coalition.

In their first direct appeal to President Biden, financial institutions and other industries' trade lobbies called on the administration to abandon its proposal that would give the Internal Revenue Service new information on customer accounts.

The partnership enables issuers to offer credit and debit cards to spend crypto balances.