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Biden plan to help smallest PPP applicants has downsides, banks warn

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It would ignore technical glitches plaguing the entire Paycheck Protection Program and could end up delaying loans to larger borrowers who also need relief, bank executives and their trade groups say.

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CFPB goes on hiring spree as it looks to ramp up enforcement

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The agency is recruiting more attorneys and shuffling personnel under new Democratic leadership as it prepares to toughen oversight of the financial services industry.

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Will HSBC's patience on fate of U.S. retail unit pay off?

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The London company poured cold water on speculation a deal to divest its 152-branch network in the United States was imminent. But biding its time here while focusing on issues in other parts of its global operation could drive up the price in a seller's M&A market.

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Regions not interested in bank M&A, CEO says

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The Alabama company is instead on the hunt for nonbank acquisition candidates as well as employees or clients it could lure away from regional banks that have announced merger deals recently, John Turner says.

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Bankers plead for answers from SBA on forgiving big PPP loans

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The Small Business Administration wants to vet Paycheck Protection Program loans of $2 million or more, but lenders have grown tired of waiting for months with no updates.

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What finally brought M&T and People's United together

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M&T had long coveted the Connecticut regional but couldn't make a deal work. Their merger is the latest example of regional banks joining forces to compete in an industry undergoing rapid transformation.

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JPMorgan Chase's Duckett to depart for top job at TIAA

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The CEO of Chase Consumer Banking and a member of JPMorgan's leadership team, Thasunda Brown Duckett has been tapped to replace Roger Ferguson as CEO of the retirement services provider.

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Fintech Brex seeks ILC to be one-stop banking resource for startups

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Brex currently relies on bank partners to offer credit cards and cash management accounts to small and midsize businesses. It is looking to charter its own FDIC-insured institution to be a direct provider.

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Citigroup makeover should drive higher returns, CFO says

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Efforts to simplify business operations under incoming CEO Jane Fraser will cost a lot of money but will ultimately create a safer, more profitable company, Chief Financial Officer Mark Mason said.

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M&T ends M&A drought with $7.6B deal for People's United

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The deal for the $63 billion-asset People's United would create a company with more than $200 billion of assets and a branch network stretching from Maine to Virginia. Buffalo, N.Y.-based M&T has not made an acquisition since buying Hudson City Bancorp in late 2015.

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