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The Pittsburgh-based parent of First National Bank of Pennsylvania plans to close its $117 million buyout of UB Bancorp in December.
October 6
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The Hauppauge, New York, institution plans to take advantage of its open charter that allows anyone in the U.S. to join after several years of building out its infrastructure to support a national business. Bankers decried the move as further overreach by the credit union industry.
October 6
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The industry must adapt quickly to the changing preferences of entrepreneurs and the innovation of nonbanks such as PayPal and Square, according to speakers at American Banker's Small Biz Banking Conference. Traditional players such as U.S. Bancorp and Comerica say they're making the necessary investments.
October 5
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Barclays will pay a $2 million fine to resolve allegations that it sent client orders to its own trading venue even when customers could have gotten better deals at competing platforms.
October 5
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American Express is ending a requirement that employees need to be vaccinated against COVID-19 to enter offices as virus cases decline globally.
October 5
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WaFd Bank is benefiting from strong demand for real estate development loans, even in the face of rising interest rates. It's looking for ways to slow growth to maintain its capital levels, CEO Brent Beardall says.
October 5
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The lawmakers have asked Attorney General Merrick Garland to share the Department of Justice's analysis on creating a central bank digital currency by Oct. 15.
October 5
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The Biden administration is setting the tone for new rules governing businesses' use of artificial intelligence, including in lending. Some call it a "toothless tiger," while others worry that it goes too far.
October 5
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In the master account lawsuit, the Fed says reserve banks aren't subject to administrative procedure law, and urges the court not to jeopardize the balance Congress has created with the Federal Reserve System.
October 5
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While the Financial Crimes Enforcement Network has finalized some Corporate Transparency Act rules, the timetable is unclear for regulations involving customer due diligence or database access for banks.
October 5
