The Latest

MidWestOne will reinvest proceeds of branch sales into Denver Bankshares; promotions are afoot in JPMorgan's investment banking unit; Bethpage Federal Credit Union expands into Queens and New Jersey; and more in the weekly banking news roundup.

With the firm's $75 million settlement this week with the US Virgin Islands, the echoes from the bank's association with the convicted sex offender continue to reverberate.

The former employee is accused of shuffling information to two friends.

Increasing federal deposit insurance limits is not the answer to the banking system's woes. It would cause riskier behavior and more red tape. And it wouldn't prevent bank runs.

Less than a month after Ripple said it had agreed to acquire custodian Fortress Trust, the crypto company is backing out of the deal.

The combination of inflation and rising interest rates over the last 18 months has made it more difficult for Americans to stay on top of their loan payments, especially on credit cards and auto loans.

MSP users who are not Encompass customers are a particular target and vice versa, ICE Mortgage Technology chair Ben Jackson said.

A proposed settlement between the Philadelphia-based community bank and an activist investor group that has waged a nearly two-year battle for control also calls for overhauling the board of directors.

To help those who may not get paid during a budget deadlock, credit unions are reviving past programs such as low-interest loans, payment deferrals and forms of relief.

Two months after the mysterious failure of the Heartland Tri-State Bank in Elkhart, Kansas, a news article sheds light on its downfall. CEO Shan Hanes was involved in a cryptocurrency hoax involving a $12 million wire payment, according to the Bloomberg Businessweek report.