Finance

CUs in both states surpassed total asset milestones, but many business lines are growing at a slower pace than they were one year ago.

Seattle-based digital remittance provider Remitly has raised $220 million in new investments and financing to accelerate its growth in more global markets.

Vehicle payment technology startup Car IQ raised $5 million in a Series A funding round that included Citi Ventures as an investor.

CUs in the Keystone State saw loan balances rise by 8.5%, while membership rose more than 3.3% to top 4.2 million.

Ribbon-cuttings for de novos have become more common as regulators have warmed up to the idea of granting new charters. These are the banks that have opened this year, along with more that are on track to do so.

Interest rates on CDs of six-months or longer have declined since a Federal Reserve meeting in June, according to Moebs Services.

Credit unions can reduce concentration risk and free up funding for new loans though participations but many institutions are hesitant about the process.

Christopher Waller is a conventional choice drawn from within the Fed’s own ranks. Judy Shelton has spent decades outside mainstream economics. But both are expected to echo the president’s call for lowering interest rates.

Shares in the U.K.-based small-business lender fell 29% Tuesday after it sought to recalibrate expectations about its growth trajectory. So far, the company has pulled back lending more in the U.S. than in its other markets.

It took the Brooklyn-based credit union 15 years to double its assets from $1 billion.

The California company will pay $39.4 million for the parent of First State Bank of Colorado.

Membership continues to rise across the Wolverine State, though at a slower pace, but lending overall is on the decline.

Trustar Bank is set to debut in northern Virginia in July.

The Pittsburgh regional, once among the most industry’s most active acquirers, hasn’t bought a bank in more than two years — and it’s in no rush to do so.

Organizers of Community Bank of the Carolinas in Winston-Salem said that they will return capital to investors and pursue other alternatives, including buying an existing bank.

In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.

FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's restructuring of its mortgage business.

The $550 million purchase will include a branch in the U.S. Virgin Islands.

The president said that European Central Bank President Mario Draghi would do a better job overseeing monetary policy in the U.S. than Fed Chairman Jerome Powell.

Credit unions and the rest of the financial services sector, in the spirit of recent criminal justice reform, should be more open to hiring workers with low-level criminal convictions.