The Latest

Burke & Herbert Financial Corp. and Summit Financial Group announced a transaction that they described as a merger of equals valued at roughly $371.5 million in stock.

New Peoples Bank announced J.W. Kiser will be its next president and CEO; D.A. Davidson hired Dan Fiandaca to lead its brokered CD underwriting group; Citizens Bank launches Roger, a digital bank for military members; and more in the weekly banking news roundup.

Comerica CEO Curt Farmer and CFO James Herzog as well as the company itself face a purported class action by shareholders for allegedly making false and misleading statements about the Dallas company's oversight of the Treasury Department's Direct Express program.

Following six years of development, the National Institute of Standards and Technology has released draft standards for three algorithms that can resist future attacks by quantum computers.

The Attorney General's office found the firm complies with a 2021 state law banning contracts with companies that "discriminate" against the firearm industry.

Mastercard and Visa stepped back from their card partnerships with Binance Holdings, distancing themselves from the cryptocurrency platform that's under threat from regulators worldwide.

The National Credit Union Administration approved Dade County Federal Credit Union's application to add almost 2 million potential members — giving it a total field of membership of 4.6 million. It's the largest-ever community charter expansion in terms of total resulting potential members.

The small community bank was bought up by crypto-focused investors and quickly repositioned to cater to tech innovators. Is this problematic or perfectly legitimate?

In his highly anticipated speech in Jackson Hole, the Federal Reserve chair acknowledged the progress made in cooling down inflation, but said the central bank would not hesitate to raise rates further if needed.

Half of the transactions on the buy now/pay later lender's new plastic card become interest-bearing loans.