Retail & Commercial

Carlos Garcia of Professional Holding Corp. in Coral Gables would serve as CEO of the holding company for Nave Bank, which seeks FDIC approval to be the first federally insured digital bank in Puerto Rico.

The credit union's CEO said a state judge supported the regulatory opposition to its bid to acquire Premier Bank in Omaha, effectively killing the deal.

Citigroup's markets operation had hundreds of blind spots, allowing for potentially abusive transactions to go unnoticed in almost 900,000 trades processed every day at the bank's Canary Wharf headquarters for more than two years.

How many more decisions will CFPB Director Rohit Chopra make without appropriate stakeholder input?

Wells Fargo bungled the 2020 sale of Occidental Petroleum shares on behalf of an employee trust, leading to millions of dollars in losses when the bank failed to execute trades as planned before the COVID-19 pandemic tanked the stock market, a judge in Texas ruled.

More than half of the nation's 20 largest commercial banks, including Citigroup and PNC, have stopped charging nonsufficient-funds fees, and another four are scheduled to end the practice by year-end. That leaves three holdouts: SVB Financial, Huntington and MUFG Union Bank.

The Federal Deposit Insurance Corp. said that multiple nonsufficient-funds fees charged on the same transaction when consumers don't have enough money in their account could violate the Federal Trade Commission Act.

As regulators mull the Toronto bank's deal for First Horizon and broader guidelines around bank combinations, community groups called for stronger investment commitments from the two banks before they are allowed to merge. 

Record fines that the world's biggest investment banks are expected to pay in the coming months reflect years of frustration among U.S. regulators that their investigations were being hampered by unmonitored messaging among bankers.

The seller, Farmers Bankshares, has $609 million of assets and eight branches.