Americas

The proposed Piermont Bank would be based in Midtown Manhattan. It is the second de novo being planned in New York.

While the looming loan-loss accounting standard has been criticized for its complexity and the potential cost to implement, some advocates believe it could also lead to better pricing decisions and improve communication within a bank.

A mortgage fraud scheme involving fake employment records, initially thought to be contained to Southern California, is occurring statewide, Fannie Mae said in a new fraud alert.

The tiny Illinois-based credit union was supported by CUNA and the Illinois CU League, who partnered to file a joint amicus brief.

The Massachusetts-based CU says membership growth has accelerated to 7.4 percent.

Gateway Mortgage's owners plan to merge the mortgage lender into Farmers Exchange Bank.

While most acquirers are content to let cost savings trickle down to the bottom line, WSFS will use the purchase of Beneficial to reinvent itself.

The Ohio special election is the latest sign that Democrats are well positioned to retake the House in midterm elections this fall.

The Delaware company plans to reinvest savings from the $1.5 billion acquisition to upgrade technology and delivery channels.

In alleging former CEO Alan Kaufman breached his fiduciary duties to the NYC-based credit union, NCUA is seeking penalties of $4.5 million.