Retail & Commercial

A new inspector general report suggests that grifts were more pervasive than has previously been reported. The Small Business Administration, which drew blame in the watchdog report, took issue with the findings.

Wise bank managers make sure that they are training employees for their next roles, and creating a deep bench of versatile talent.

Between 2004 and 2021, the share of originations under $150,000 has declined by 70%, forcing a growing number of consumers to seek alternative forms of financing instead of getting a mortgage, a Pew Charitable Trusts report found.

Cullen/Frost, Columbia, Synovus, Valley National and Associated all have relatively large exposures to the office sector, which has been hurt by the popularity of remote work. Their executives point to factors that offer protection, including the geographic composition of their portfolios and the types of buildings that serve as collateral.

The 30-page receivership petition filed in federal court on Monday demands an immediate impounding of all assets of Las Vegas-based Prime Trust.

The watchdog claims that during internal testing, the company illegally processed $2.3 billion in mortgage payments.

The bank hasn't managed debt sales in Texas since a measure took effect in 2021 that bars governmental entities from working with companies that "discriminate" against firearms businesses. BofA's "current risk-based framework and policies" can comply with that law, a lawyer for the bank has told the state.

Bank of America says it will extend its branch footprint to Omaha, Dayton and Huntsville. The moves are part of an ongoing strategy to enter new markets even as the bank reduces its total branch count.

When community lenders report second-quarter results next month, all eyes will be on deposit levels and funding costs. By extension, analysts expect more banks to roll out expense reduction plans to protect their bottom lines.

The allegation that Binance encouraged the use of location-obscuring technology so that it could illegally serve U.S. clients is a symptom of a broader problem for financial services companies.