Finance

The Treasury Department's CDFI Fund issued nearly $32 million to credit unions this week after providing $3.5 million in technical assistance grants earlier this year.

A lawsuit filed by a New Jersey branch employee who was fired in 2016 includes detailed allegations about the pressure that front-line workers faced to meet monthly sales targets. The case is scheduled to go to trial in February.

The Boise-based credit union is the fourth institution in the Northwest to receive the recognition.

This is the second time in five years the California-based credit union has issued a giveback, for a total of $38 million.

The deal is Seacoast's third acquisition of a bank with operations in Palm Beach County.

The once-acquisitive company appears ready to come off the sidelines, but will it be as a buyer or seller?

Five years into Victor Dodig's time as chief executive officer of CIBC, the performance gap between Canada's fifth-largest bank and its peers is as wide as ever.

Delinquencies also remained at "historical low levels" through Sept. 30, according to the state's financial regulator.

There's been chatter that investors are shying away from Fannie Mae and Freddie Mac mortgage-backed securities because Congress may not enact housing finance reform. Be skeptical of those claims.

PayPal Ventures is part of an investment group that has raised $4.2 million for cryptocurrency risk management platform TRM Labs.

United Bankshares in West Virginia was willing to pay a healthy premium for Carolina Financial, one of a dwindling number of available banks with more than $4 billion in assets.

Zazu Limited, a Zambian fintech, has partnered with Mastercard to launch a mobile wallet that supports a prepaid account instantly issued from the app to any local consumer — with or without a bank account.

The company will pay $1.1 billion for Carolina Financial in Charleston, S.C., in a deal that will add nearly $5 billion in assets.

The Soboba Band of Luiseño Indians plans to form a holding company and raise $25 million for Legacy Bank.

The Wisconsin-based institution has returned more than $11.7 million to members over the past six years.

The State Bank Group and The Provident Bank are backing Neocova, which focuses on community banks.

Such credits, which reflect borrowers with financial challenges, increased significantly during the third quarter.

The issue, tied to how the company reconciles corporate accounts to its general ledger, is not expected to impact past financial statements.

The Louisiana company's willingness to combine with First Horizon without a big initial payday is fueling talk that other banks could be keen on selling at relatively inexpensive prices.

A group has filed paperwork with the FDIC to form Legacy Bank in Temecula.