Merchant

When the superregional bank sold its insurance business for $10.1 billion, it laid out three ways to use the proceeds: buybacks, a balance sheet repositioning and loan growth. The latter plan is so far proving to be elusive.

The Alabama-based bank also said that its outlook for net interest income is brightening. Several other regional banks have offered similarly upbeat guidance in recent days.

The Minneapolis-based company reported an 18% increase in quarterly net income thanks largely to slimmed-down operating expenses. It also notched modest increases in loans and deposits, while asset quality issues remained manageable.

The core services provider partnered with Lendio to devise a cloud-native tool that will automate small business loan decisioning and onboarding for banks.

The government-backed instant processing network has been live only since the summer of 2023, but it's already indirectly boosting usage at an unrelated bank-led rail from The Clearing House.

Two days after the megabank was hit with $136 million of fines, Citi executives said they aren't changing the company's full-year expense guidance. Citi has 30 days to submit a plan to regulators showing that the bank has allocated enough resources to achieve compliance in a timely and sustainable manner.

The four lawsuits allege that attackers stole members' Social Security numbers, among other data. Patelco has not yet confirmed whether any data was stolen.

Former employees of the Austin-based City National Bank still recall the 1981 flood that deluged the city and Whole Foods, and they take pride in the lender's role in rescuing what was then a fledgling health food store.

The attack knocked out online banking, mobile banking and the call center at Patelco Credit Union.

Wise, Affirm and Bilt Rewards are among the seven fintechs whose customers' data has gotten tied up in the breach. The number of affected companies is likely to grow.