Finance

An effort by the Federal Housing Finance Agency to examine membership rules for the Federal Home Loan Bank System is reigniting an argument over whether to allow more nonbanks in or impose tougher barriers.

San Diego County Credit Union saw membership rise 4.5% last year, but net income was down due to decreased loan volumes, increased charge offs and higher operating expenses.

E-Trade could add about 30 basis points to a key capital ratio once the deal closes, Jonathan Pruzan says.

The San Francisco bank has revised its guidance downward, while also cautioning that an outbreak of the coronavirus could take an even bigger bite out of profits in 2020.

The decline in net interest income was among the reasons year-over-year profits at the U.S. operations fell for the first time since 2012.

The growth and monetization of Square’s Cash App boosted the company's quarterly earnings, along with the sale of its food delivery unit Caviar.

Though the agency plans to give more credit unions authority to issue subordinated debt, limited investor appetite and other factors could hamper activity.

National Credit Union Administration board member Todd Harper also emphasized the risks of poor succession planning during remarks on Wednesday.

The banking group issued lawmakers a guide on questions to ask as credit union executives visit Capitol Hill for two days.

ICBA outlined a series of questions for lawmakers that would force credit unions to defend the industry's practices during meetings with local representatives.

Though the agency plans to give more credit unions authority to issue subordinated debt, limited investor appetite and other factors could hamper activity.

A spike in loan-loss provisions dragged down first-quarter profits at the Toronto company’s U.S. unit.

The FDIC’s Quarterly Banking Profile said lackluster net interest income, likely resulting from lower short-term interest rates, drove a decline in fourth-quarter and full-year earnings.

WSFS, in an effort to catch up with bigger rivals, plans to upgrade digital channels in three years instead of five.

The company revised its results to a net loss of $700,000 after deciding to record a $16 million loan-loss provision for the commercial loan.

Community banks are entering the business as intermediaries to counter the pinch of low loan yields and intense competition on spread income.

Data from regulators in the Badger State show state-chartered CUs making gains in several key areas in 2019 even amid a dip in ROA and an increase in allowance for loan losses.

BBVA and venture capitalist Anthemis Group are providing seed funds to U.K. fintech Wollit that will offer a subscription-based cash flow product for gig economy workers.

The savings and credit building startup Self Financial has raised $20 million in a Series C funding round to help fuel its expansion to serve financially struggling consumers.

Freddie Mac elevated Corley to executive vice president and head of its single-family business, putting her permanently in the role she occupied since last October.