Finance

Organizers of the proposed Our Community Bank still need to raise $18 million before opening.

The Indiana company said the move reflects a need to cut costs and customers' increased preference for digital channels.

The Honolulu company said the "non-public, fact-finding inquiry" by the Securities and Exchange Commission focuses on its calculations for earnings per share.

Payservices would use deposits largely to support its existing business. It has no plans to make loans.

Unify Financial is sponsoring a $300M securitization of prime auto loans. The $3.3 billion-asset institution is only the second CU to sell securities backed by auto loans since the NCUA gave the green light for credit union securitizations nearly four years ago.

Many in Washington have been in suspense about whether the Biden administration would favor a former Obama official or a financial inclusion advocate for comptroller of the currency. Mehrsa Baradaran, the candidate preferred by community activist groups, appears to have the edge.

Comerica, Regions and KeyCorp executives say their companies will proceed with caution despite the green light from the Federal Reserve to buy back stock in case they have to cover a surge in loan growth as the economy recovers.

Ten companies this week joined the American Fintech Council, which debuted March 3 after the Marketplace Lending Association and Online Lending Policy Institute combined.

HoldCo Asset Management, which gains two board seats from a standstill agreement, had expressed disappointment that the Boston company hired a CEO instead of pursuing a sale.

Government incentives and pandemic-fueled changes to habits create opportunities in the region.