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Financial institutions that received funding from the Emergency Capital Investment Program grew their loans by 35% between 2021 and 2022, according to new research. Now leaders at those institutions are turning their attention to the need for patient deposits.
June 8
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Citigroup, Bank of America, Wells Fargo and KeyCorp are part of a coalition that last year pledged to move $1 billion of deposits to minority depository institutions and community development financial institutions. On Thursday, organizers announced that the group has reached its goal.
June 8
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The public will have an additional 32 days to contribute to the Consumer Financial Protection Bureau's inquiry into the market for collecting and selling consumer data.
June 8
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Cashless ATMs — which imitate a typical debit card transaction but code them as cash withdrawals — can lead to hefty fines. But many dispensaries still use the devices, partly due to the murky legal environment that surrounds the entire weed industry.
June 8
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Threat intelligence has become a viable option for banks looking to gain insights about fraudsters communicating on Telegram with other criminals.
June 8
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Led by House Financial Services Committee Chair Patrick McHenry, R-N.C., Republican lawmakers asked the Financial Crimes Enforcement Network to develop a plan to make sure small businesses can come into compliance with its new beneficial ownership rule.
June 8
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Federal bank regulators issued proposed guidelines for banks and other mortgage lenders to craft policies around reconsideration of value requests. The move is the latest aimed at rooting out bias in home appraisals.
June 8
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An analysis by S&P Global Market Intelligence shows that 37 of the 50 largest U.S. banks reported increases in total assets after a series of regional lender failures.
June 8
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Josh Williams, chief banking officer for Seattle Bank, explains how changes in payments technology will affect smaller institutions.
June 8
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The FDIC gave Cadence Bank in Mississippi the highest possible rating on its most recent Community Reinvestment Act evaluation. Cadence was the product of a 2021 merger completed just months after the acquired bank settled a federal lending discrimination case.
June 8
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The seller announced the delay to give it time to solicit more votes in favor of the deal. It plans to push a June 13 meeting to next month, when shareholders will decide whether to approve the transaction.
June 8
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Regulators need to recognize the uniqueness and potential of cryptocurrency instead of seeking to fit crypto assets into an outdated regulatory framework.
June 8
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The measure will prevent banks chartered elsewhere from charging interest rates above Colorado's 36% rate cap. If additional states take the same approach, it could hamper the business model for high-cost consumer lenders that partner with banks.
June 7
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Robert Trunzo, who has led TruState since 2014, will retire in October. The company, previously called CUNA Mutual Group, hired Terrance Williams to replace him.
June 7
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After shares dropped in the aftermath of recent failures, most banks demonstrated resilience and investors started to buy back into the sector.
June 7
