Retail & Commercial

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.

A proposed settlement between the Philadelphia-based community bank and an activist investor group that has waged a nearly two-year battle for control also calls for overhauling the board of directors.

Two months after the mysterious failure of the Heartland Tri-State Bank in Elkhart, Kansas, a news article sheds light on its downfall. CEO Shan Hanes was involved in a cryptocurrency hoax involving a $12 million wire payment, according to the Bloomberg Businessweek report.

Federal Deposit Insurance Corp. Chairman Martin Gruenberg said despite earlier proposals for reforming deposit insurance following this spring's bank failures, congressional interest in major reforms has waned and prospects for legislative changes are dim.