Retail & Commercial

Challenger bank Revolut calls for Meta's scam info program to reimburse victims; Sunwest Bank taps Umpqua's Mike McKean to lead treasury and payments; Fifth Third launches a new line of business; and more in this weeks banking news roundup.

Despite strong growth and solid profits, the Miami-based lender, formerly a business development company, still hasn't convinced the market it fits in as a bank.

In a letter to Acting Comptroller Michael Hsu, Democratic Sen. Elizabeth Warren urged the regulator to curtail the megabank's growth in response to its failure to improve its risk management programs.

Coordinated strikes by dock workers along the Eastern Seaboard and the Gulf Coast could cause issues for banks that provide credit to foreign shipping groups and domestic trucking companies.

As political campaigns become more expensive and more complicated, meet the banks that have become the preferred financial institutions for the Republican and Democratic parties.

Federal Deposit Insurance Corp. Chair Martin Gruenberg said an FDIC study proves relationship-driven lending practices remain crucial to small-business lending and economic stability, despite technological advancements in the banking industry.

As part of a wide-ranging speech on community bank oversight, the Federal Reserve governor said business models should determine regulatory scrutiny rather than asset size.

New Canaan-based Bankwell's digital solution relies on software designed by Lendio to compress the application-to-funding interval and appeal to speed-conscious small-business owners.

The Miami-area bank long ago exited New York and has plans to leave Texas, as CEO Jerry Plush expands its footprint in the Sunshine State. The shift comes as the bank, which competes in Florida with many out-of-state banks, is set to cross $10 billion of assets.

Multiple lenders recruited and promoted from within to fill leadership posts. Orrstown Financial Services disclosed the retirement of its planned CEO successor.