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Months of painful restructuring may be paying off as the Charlottesville, Virginia-based company reported a modest third-quarter profit after more than a year of losses.
December 17 -
There are many ways for the incoming administration to overturn the Consumer Financial Protection Bureau's final rule slashing overdraft late fees to $5. But the politics of nullifying the rule is a challenge to an administration that promised lower prices.
December 17 -
The Georgia-based bank plans to hire 85 relationship managers over the next three years to support growth in commercial and middle-market lending and private wealth. "The biggest risk is not being able to hire the bankers," said CEO Kevin Blair.
December 16 -
The bank ends the year with a substantially different profile from early 2024, which brought new leadership, a significant reduction to its mortgage operations and a corporate rebrand.
December 16 -
The combination would create a Northeast regional bank with nearly $24 billion of assets. It would rank as the eighth-largest bank in the Boston metropolitan area by deposit market share.
December 16 -
The Long Island bank is the latest financial institution to use new equity to restructure its balance sheet and unload low-yielding assets. Its stock price tumbled after the shares were priced at a considerable discount.
December 13 -
Affirm partners with Sixth Street to sell its buy now/pay later loans to the investment firm; Associated Banc-Corp promotes Steven Zandpour to deputy head of consumer and business banking; Visa Direct speeds up its money transfers; and more in this week's banking news roundup.
December 13 -
The bank said it redeployed proceeds from the sale into high-yielding investments. It also said it would end an employee pension plan to curb expenses.
December 13 -
A close result was complicated by an hour-long adjournment of the New York-based company's annual meeting that angered dissident investors and left them mulling legal action.
December 13 -
The post-pandemic increase in consumers falling behind on their credit card bills seems to be tapering off. "For 2025, we're seeing a lot of stability in delinquencies," an industry researcher said.
December 13