Consumer banking
Consumer banking
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BMO hired former CEO of Citi Private Bank Halé Behzadi to accelerate the bank's growth strategy in California; Pennsylvania's Linkbancorp received regulatory approval to sell its New Jersey operations to a credit union; Dream First Bank announced plans to gain branches throughout Oklahoma; and more in this week's banking news roundup.
March 28 -
The midyear fee hike was necessary to reverse a revenue shortfall in the agency's 7(a) program, according to Administrator Kelly Loeffler.
March 28 -
The San Francisco bank announced Monday that it has shed its fifth regulatory order this year — this one related to loss mitigation practices in its home lending business.
March 28 -
A new Office of External Relations and Strategic Partnerships will continue the work of helping banks develop affordable credit for consumers lacking a credit score using untraditional methods of determining creditworthiness, the agency's acting head said.
March 27 -
The Connecticut bank disclosed that Nasdaq waived a shareholder approval requirement so it could urgently raise more than $50 million. Patriot also said its finance chief would step down.
March 27 -
The Trump administration's plans for student loans could open the door for banks to grab market share as borrowers seek alternatives.
March 27 -
The North Carolina House of Representatives this week passed a measure that would allow credit unions to expand into geographic areas with few, if any, bank branches. Banks say such a change could open the door for credit unions to expand far beyond their limited missions.
March 26 -
The digital bank announced upgrades to its online and mobile platforms that let users see financial information from multiple accounts on one dashboard.
March 26 -
The two financial institutions issued Avit tokens on the Ethereum mainnet, marking a first in the U.S.
March 25 -
The Mississippi lender said regulators have signed off sooner than expected on its $103.6 million acquisition of First Chatham Bank. The bank's CEO and deal advisers said the speedy approval bodes well for future M&A.
March 25 -
A proposal before Congress would incentivize the creation of new banks by offering capital relief. This would give de novo banks a competitive advantage over incumbent community banks.
March 25 -
Americans spent 49% more on overdraft-related fees in 2023 than previously estimated, according to new research, which finds that credit unions were largely responsible for the previously uncounted revenue.
March 25 -
The fintech, which specializes in low or no fee banking and early access to paychecks, is now offering three-month installment loans.
March 24 -
San Antonio-based Broadway National Bank hopes marketing campaigns featuring old presidents with new looks will boost brand recognition in Dallas and Houston.
March 24 -
BankFirst Capital Corp. is seeking to bolster its presence in southern Mississippi with a deal to acquire Magnolia State.
March 21 -
The Connecticut bank said its newly minted president, Steven Sugarman, successfully led a private placement and signed a long-term employment agreement that makes him a potential CEO. David Lowery, current chief executive of Patriot, plans to step down in April.
March 20 -
The bipartisan co-chairs of the Community Financial Development Institution caucus sent a letter urging the Trump administration to continue supporting the CDFI Fund after it was slated for cuts in a recent executive order.
March 20 -
The Independent Community Bankers of America wants Congress to eliminate tax exemptions for credit unions with more than $1 billion of assets, scaling back an earlier request that would have targeted the entire credit union sector.
March 20 -
Bakkt is losing contracts with the bank and Webull just months after the company's acquisition talks with Donald Trump's Trump Media fell through.
March 19 -
The U.S. arm of Spanish banking giant Banco Santander is offering a high-yield savings account through its digital bank, Openbank, to eligible Verizon customers, a move that will introduce Santander to millions of potential new customers.
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