Retail & Commercial

M&T Bank in Buffalo, New York, named Peter D’Arcy head of commercial banking after completing its acquisition of People’s United Financial earlier this month. D’Arcy will take over from Gino Martocci, who is retiring.

More than two years into the pandemic, banks hit several turning points during the first quarter. On the positive side, commercial loan growth finally materialized, but there were also snags, particularly in fee income.

The Consumer Financial Protection Bureau will conduct supervisory exams of nonbank fintech companies that pose risks to consumers as Director Rohit Chopra seeks to level the regulatory playing field with supervised banks.

The industry is preparing for a grueling federal rulemaking process to implement the Corporate Transparency Act, which was intended to streamline anti-money-laundering compliance. Analysts say the devil will be in the regulation’s myriad details.

Executives at the Alabama bank anticipated that some corporate deposits would start to leave during the first quarter as interest rates rose. Instead, deposits grew to a record $138.7 billion.

The bank didn’t disclose which specific employees, or how many, were impacted by the announcement.

Lenders don't oppose CFPB data collection for small-business loans but favor changes that would minimize unintended consequences for borrowers, a Consumer Bankers Association official writes.

The Wisconsin company is the latest bank to plan cutbacks in the fees. Its fee income is projected to fall by about 2% from its level last quarter.

A sell-off of technology stocks this year has helped dissuade firms from going public. But Silicon Valley Bank’s parent company, which counts many tech firms among its clients, says the pullback hasn’t spread to smaller startups and the venture-capital funds that finance them.

The U.K.’s markets regulator has told challenger banks to improve their financial crime controls, saying some are failing to carry out adequate checks on new customers.