Finance

A new report from the National Credit Union Administration showed institutions in many states are struggling with a deluge of deposits while their lending opportunities are drying up.

The rule change will allow credit unions to raise more capital to help their members, not line the pockets of investors, as bank lobbyists claim.

Noninterest income has bolstered profits this year. But its growth is expected to slow over the next two years, making for a gloomy earnings outlook unless vaccine distributions and the economic recovery are relatively swift.

The company adds to a growing list of banks shutting branches to invest in technology offerings.

First Technology FCU, led by a former banker, stands ready to raise fresh capital by issuing subordinated debt. But first it must wait for a rule change from the National Credit Union Administration that's drawing fierce opposition from the banking industry.

As with most things related to 2020, COVID-19 will be a deciding factor as the Federal Reserve considers whether banks are able to increase their dividends or resume share buybacks.

The regulator is expected to finalize a rule this week allowing credit unions to issue subordinated debt to outside institutional investors. That's bad public policy, the American Bankers Association writes.

A new report from McKinsey says that cost-cutting alone won’t make up for the steep revenue declines brought on by low interest rates and sluggish loan demand. “For some banks,” argues the report’s author, “mergers might be the best way out.”

U.S. consumers wanting to use cash for online payments will have the option to do so through a collaboration between Paysafe and Incomm Payments.

Waterfall Bank, which has ties to an investment group that handles affairs for family offices, would be based in the Tampa Bay area.