The Latest

The Treasury Department's Community Development Financial Institutions Fund has introduced significant updates to the CDFI certification application, aiming to simplify the process and establish clearer standards for responsible lending and community development.

The 130-year-old Warsaw Federal Savings & Loan achieved a minority status after retooling its board this summer. Its CEO, who is also new to the job, has no plans to slow the pace of change at the depositor-owned bank.

Banks branches continue to shutter through October; First Carolina onboards fintech partner BM Technologies; ICBA announces its 2024 accelerator companies; and more in the weekly banking news roundup.

Top GOP members of the House Financial Services Committee have asked the Office of the Comptroller of the Currency for details regarding the hire of Prashant Bhardwaj, who left the agency, and what rulemakings he was involved in.

Visa, Mastercard, SAP, Circle and many other financial firms are launching digital card accounts with an emphasis on B2B clients.

The deadline for compliance with the Securities and Exchange Commission's new cyber disclosure regulations is coming. Banks need to be ready.

A provision to standardize and clarify banks' operational risk obligations — which opponents say is excessively costly and may not be effective — is emerging as the focal point of the public debate on the broader rule. It may also be the key to taking the rule over the finish line.

Once the pace of private equity-backed sales of middle-market companies picks up, the Rhode Island-based bank expects to benefit. CEO Bruce Van Saun says that Citizens' recent expansions in private banking and wealth management will provide opportunities to cross-sell to corporate clients.

Top industry executives said this week that price increases are abating, even if they haven't yet fully abated. Their remarks reflect increased confidence that the Federal Reserve will hold interest rates steady — or perhaps even cut them — in the first half of 2024.

Led by Senate Banking Committee ranking member Tim Scott, R-S.C., GOP members of the Senate Banking Committee say they have concerns about Federal Deposit Insurance Corp. Chairman Martin Gruenberg's leadership ability.