The Latest

The buyer said it would pay $140 million in cash and stock to acquire Citizens Bancshares. It would gain about $1 billion of assets in and around Missouri's largest city.

So far this year, banks have reported that borrowers continue to repay their loans and delinquency rates remain low. But there are signs that this may change.

The product of bipartisan negotiations reviewed by American Banker gives nonbanks the all-clear to issue stablecoins, but keeps the licensing powers with the Federal Reserve and bars algorithmic stablecoins for two years.

People Trust Community Federal Credit Union in Arkansas will provide depository services not offered by its sponsoring community development financial institution, the People Trust Community Loan Fund.

Celina Philpot will succeed interim chief executive Neil Cooper as head of the Canadian credit union on Sept. 26.

The Biden administration has selected Travis Hill, formerly Jelena McWilliams' policy chief, for the No. 2 spot on the board of the Federal Deposit Insurance Corp.

Stephens Inc. found only 19% of bankers expect deal volume to pick up over the next 12 months. It was the lowest percentage since the firm's surveys started in 2017.

Banks including Wells Fargo, Bank of America and JPMorgan Chase have pulled back on financing for offices and other commercial real estate following a record burst of lending in the first half of this year. 

The popular peer-to-peer payments network is rife with fraud. And as much as the Consumer Financial Protection Bureau might want to crack down on the big banks that own Zelle, the agency is legally handcuffed.

Wells Fargo remains committed to turning itself around following a series of scandals that have plagued the bank since the middle of the last decade, but it will take "several years of work" to satisfy U.S. regulators, Chief Executive Charlie Scharf said.