Retail & Commercial

Mergers have left Virginia without an independent statewide financial institution. Atlantic Union CEO John Asbury is trying to change that.

A federal appeals court is putting the transfer of a lawsuit challenging the Consumer Financial Protection Bureau on hold pending the outcome of a hearing on the suit's appropriate venue.

The Congressional Budget Office report on the Home Loan banks illustrates the ways the nearly 100-year-old system is integral to the U.S. economy, and its benefits for American consumers.

States reconsidering the opt-out provision of the Depository Institutions and Monetary Control Act should understand that doing so inherently devalues banks chartered within their borders.

The proposed data sharing rules could create opportunities for forward-thinking financial institutions to better serve their customers and meet ever-growing expectations for digital finance.

There are lingering questions related to the agency's 1033 proposal, including how to balance access to information with fraud prevention. But financial institutions should look for ways that access to additional data could help them create better products.

The U.S. arm of Spanish banking giant Santander has hired Swati Bhatia to oversee retail banking and its digital transformation efforts. Bhatia joins at "an inflection point" for the company, which aims to be "a digital bank with branches," CEO Tim Wennes said.

Mariya Rosberg is named Americas head of banking and financial services at Marsh McLennan's Oliver Wyman unit; startup ZayZoon raised $15 million in a new funding round; and more in the weekly banking news roundup.

Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.

But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.