Retail & Commercial

With multiple economic factors driving up the costs of owning a vehicle, the $1.9 billion-asset institution in New Hampshire is partnering with Credit Union Leasing of America to make car ownership more affordable for members.

Donald Trump wanted to get higher on the Forbes billionaires list and save a fortune on loan terms by overvaluing his properties, according to documents presented by New York Attorney General Letitia James at the former president's civil fraud trial. 

The $23 million deal, signed in 2021 and initially projected to close in the second quarter of 2022, was delayed multiple times amid leadership turnover at the Los Angeles-based RBB.

German financial watchdog BaFin has appointed an independent monitor to oversee Deutsche Bank's progress in resolving issues at its consumer unit. It's the second time BaFin has taken the unusual step since Christian Sewing became CEO in 2018.

Making the Consumer Financial Protection Bureau's funding subject to congressional appropriations would bring some much-needed accountability to a runaway regulator.

In September's roundup of top banking news: Truist Financial promises to cut costs by roughly $750 million; former Wells Fargo exec Carrie Tolstedt is sentenced to three years probation; and more.

Commercial real estate borrowers, including vulnerable office tower landlords, are increasingly struggling to make payments and, as a result, more lenders are expected to report higher credit costs.

MidWestOne will reinvest proceeds of branch sales into Denver Bankshares; promotions are afoot in JPMorgan's investment banking unit; Bethpage Federal Credit Union expands into Queens and New Jersey; and more in the weekly banking news roundup.

The combination of inflation and rising interest rates over the last 18 months has made it more difficult for Americans to stay on top of their loan payments, especially on credit cards and auto loans.

MSP users who are not Encompass customers are a particular target and vice versa, ICE Mortgage Technology chair Ben Jackson said.