Retail & Commercial

Most banks’ interest income will rise following the Fed policy shift. But the rate increase also boosts the likelihood of a recession that could hurt borrowers and drive up loan losses.

The state-sponsored entity plans to launch a $250 million “community decarbonization fund” to finance electrification, energy efficiency and onsite power projects in disadvantaged communities.

The founder and CEO of Piermont Bank recently won recognition as a Digital Banker of the Year from American Banker. She discusses her approach to working with fintechs.

Regulatory pressure and business exigencies have spurred foreign banks to draw down their presences in the United States in recent years. But Spanish bank Santander has been going the other way, expanding its U.S. business presence.

The Consumer Financial Protection Bureau is scrutinizing “rent-a-bank schemes” that charge borrowers high interest rates, the agency’s deputy director said Wednesday. Consumer advocates have long pushed for limits on such partnerships between banks and nonbank lenders.

Democratic Sen. Elizabeth Warren cited a report that found then-acting Comptroller Keith Noreika chose to privately reprimand the Canadian bank for consumer abuses, rather than issuing a fine.

The Dallas bank is joining the branch-consolidation trend that has accelerated during the pandemic, announcing plans to shutter 22 branches in Michigan, Texas and California.

Citigroup and Bank of America have teamed up with five other banks to form Octaura Holdings, an electronic trading platform for syndicated loans and collateralized loan obligations.

Credit unions enjoyed especially strong loan demand from car buyers — helping to push overall loan growth to twice the rate of what banks saw in the first quarter — following a lull stemming from pandemic-era setbacks.

Community development financial institutions proved themselves indispensable during the COVID-19 pandemic. They have earned a seat at the table.