Retail & Commercial

In a letter to regulators, the consortium of organizations recommended regulatory changes affecting a range of rules from risk weights to warehouse financing.

The North Carolina-based megabank is making a $25 billion commitment to private credit — the latest signal that banks are undeterred, even as Wall Street raises alarm bells about the sector.

Research from Andrew Davidson claims a significant number of mortgage borrowers would have a wide variance in credit score if less than three pulls are used.

Banc of California appoints Chris Healy its new executive director and head of payments; Lia Fordjour is named chief financial officer of the American Bankers Association; Airwallex is the latest fintech to lean on sports sponsorships; and more in this week's banking news roundup.

The Buffalo-based bank didn't specify the size of potential losses from a suit that grew out of the collapse of subprime auto lender Tricolor Holdings. M&T said its trust subsidiary will "vigorously defend itself" against claims by investors who allege that it should have protected them from alleged fraud.

The New York City-based lender, whose roots lie in taxi lending, believes an expanded home-improvement loan operation will generate mid-teen loan growth this year.

Lenders with between $10 billion and $100 billion of assets grew their core deposits by more than 8% last year, or more than double the industry-wide average. Merger activity was largely responsible for the outsized growth.

The Olympics are boosting spending in Italy, large-in-part thanks to Americans. In the U.K., Barclays is reportedly leading a meeting to seek support for an existing project. The meeting comes against the backdrop of geopolitical concerns and the dominance of American-based payment firms.

The sale of AO Citibank to Moscow-based Renaissance Capital marks the end of an exit plan that started in 2021 and expanded after Russia invaded Ukraine the following year.