Finance

Organizers of Dogwood State Bank are looking to raise $75 million in hopes of opening by mid-2019.

An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem.

Women managers in the Well Fargo’s wealth management division say they are being passed up for promotions; TD Bank's U.S. retail division saw profit jump 27% in fiscal Q3.

Small banks and credit unions say slow responses and outdated products from the establishment tech vendor can become a drag on their innovation efforts.

Judy Long, president of First Citizens National Bank in Dyersburg, Tenn., launched the Smart Women financial literacy program after seeing female customers struggle with managing their finances.

The company said it could use proceeds to fund organic growth or acquisitions.

The two companies were part of an $8 million funding round for Paystack, a company with a model similar to Square.

SWNB Bancorp was unable to secure enough votes to back its proposed sale to Hanmi Financial.

Bank of Montreal set a profit record for its U.S. business, thanks in part to Donald Trump's tax cuts and lower provisions for bad loans.

Free checking peaked nearly a decade ago, but more than half of all credit unions continue to offer it, despite new players fighting for that business.

Canada’s credit unions have been losing out to the country’s banks in terms of business banking market share, and have struggled to keep up with the banks’ capacity for technological innovation. Central 1 wants to redress this imbalance in the credit unions’ ability to compete with the banks.

Seth Frotman, whose student lending unit had been gutted in May, said the bureau's current leadership "has abandoned its duty to fairly and robustly enforce the law.”

The Congressional Budget Office has found that restructuring the mortgage market would save the government billions of dollars but may increase the cost of housing.

Bank7, which aims to raise $75 million, also has extensive dealings in the hospitality industry. The company has completed two acquisitions since 2011.

When Chris Winship, partner of FTV Capital, paid $35 million in private equity funds for a slice of the digital gift card player Tango Card in May 2018, he did so with the expectation that he would quickly find a buyer.

An OCC charter for fintechs requires firms to meet a “financial inclusion” standard instead of conventional Community Reinvestment Act requirements. That’s a problem.

Lakeland will expand its operations in three counties in its home state of New Jersey with the $57 million acquisition.

The CFPB nominee wins approval from the Senate Banking Committee by a 13-12 vote; the country is looking to borrow $11 billion after Aramco IPO is delayed.

A huge chunk of the profit increase in the second quarter was due to a lower tax rate, but rising net interest margins and loan growth signal that institutions continue to derive revenue from their loan book.

Cheap funding and marketing muscle could give it an advantage over existing lenders, but this corner of the market may not be big enough to move the needle for the bank.