Retail & Commercial

Profitable community banks based in Georgia and New Mexico have announced deals to sell themselves to credit unions this week, drawing the ire of banking advocates.

A "spike in unusual traffic" caused service degradation for the infrastructure giant, disrupting digital banking for customers.

The West Reading-based bank has opened three offices in California and two in Nevada, continuing its strategy of establishing a presence in high-growth markets around the country, CEO Sam Sidhu said.

Witnesses and lawmakers at a House Financial Services Committee hearing gave a more downcast view of a Senate deposit insurance reform proposal, with many House committee members expressing cost concerns.

Treasury Under Secretary for Domestic Finance Jonathan McKernan said he is concerned that the traditional bank funding model of taking in low-cost deposits and making more lucrative loans could be set for a shakeup as fintech challengers get more competitive.

Quality Control Advisor Plus is an integrated system which brings together previously separate units, cutting months off of Freddie Mac's current QC process.

The country's second-largest bank has unveiled a digital platform for retirement decisions — not on how to save, but how to disburse those savings in a steady, sustainable way.

The financial services firm based in Houston tried to buy a Chicago community bank three years ago as part of a plan to offer traditional banking and digital asset services on one platform. With Illinois state approval secured, it now awaits a decision from the Fed.

The Virginia-based bank had been an example of what can go wrong when banks partner with fintechs. After being released from an OCC enforcement action, Blue Ridge is now focused on operating as a traditional community bank, said CEO Billy Beale.

Philadelphia-area Citadel Credit Union is starting to see a payoff from a major investment in its business banking operations.