Finance

The cloud-based payment network Rapyd is adding the newly founded venture capital firm Durable Capital as one of its investors.

The cloud-based payment network Rapyd is adding the newly founded venture capital firm Durable Capital as one of its investors.

PiNG Bank, which would be based in Jersey City, is being proposed by former bankers at Cross River Bank, Citigroup and Bogota Savings Bank.

The company agreed to pay $41 million for Victory Community Bank.

Loan limits for most mortgages Fannie Mae and Freddie Mac buy will exceed $500,000 for the first time ever next year, and the maximum for most high-cost areas will be $765,000.

The New York-based institution has returned more than $8 million to members since 2003.

David Becker, who founded First Internet Bank two decades ago, says traditional banks' digital-only ventures are only making his bank look more mainstream.

One-time expenses at a handful of large banks marred an otherwise solid quarter, while higher charge-offs point to possible credit-quality concerns.

In the Fed's quest to bring inflation back to its 2% target, Gov. Brainard recommended pursuing a policy she called “flexible inflation averaging.”

Profits dipped 7% from a year earlier but banks still earned nearly $60 billion, the agency said in its Quarterly Banking Profile.