Finance

New Enterprise Bank would focus on venture capital and private equity firms that are involved in investment between China and the San Francisco area.

The Charlotte, N.C., company recently closed on a sale of its Cohen Financial platform to SitusAMC.

The central bank must engage core processors, community banks and The Clearing House if it wants to move quickly on building out its FedNow system.

The company will shutter a fifth of its locations, while reinvesting some of the savings in its digital banking platform.

As more consumers look for alternatives to credit cards, investors are flocking to point of sale credit firms, with Affirm raising a fresh $500 million.

The agency has scheduled an extra assessment of institutions' strength to incorporate more recent economic data during the pandemic.

Second-quarter figures from the credit union regulator paint a grim picture for many states across a variety of key earnings metrics.

Deal activity, already on pace for its slowest year in more than two decades, will likely remain suppressed until bankers get a handle on credit exposure and more clarity on valuations.

The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice.

The central bank said it would keep interest rates at current levels through at least to help the U.S. economy recover from the coronavirus pandemic.

Congress should pass legislation that would allow Home Loan banks to backstop deposits by local governments at commercial banks and lower the cost of bond financing, two mayors argue.

Two board members for the credit union regulator spoke during a NAFCU event, highlighting liquidity issues, plans for new departments at the agency and more.

“What COVID has done for us is it has showed us where to prioritize investments,” William Demchak said at an industry conference in discussing the Pittsburgh company's plans to speed up the shift to digital banking.

The company joins a growing list of banks shuttering locations as customers flock to digital channels.

Chris Gorman, the Cleveland company's chairman and CEO, said at an industry conference that an ongoing shift to digital channels provides an “opportunity to continue to ramp up" efforts to shutter physical locations.

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

Bolster, a marketplace for executives who can fill roles on an interim or advisory basis, is expected to fill a key need for the bank’s technology and life science clients.

For all the damage from the pandemic and economic downturn, this crisis has not impacted liquidity. Lawmakers would be foolish to permanently alter the Central Liquidity Facility.

The post was vacant since Kristy Fercho left to run Wells Fargo Home Loans in July.

A trio of small credit unions designated as minority depository institutions have been matched with larger institutions to improve outreach to low-income and underserved consumers.