Retail & Commercial

The company said a national search ended in its backyard with the hiring of Wisconsin veteran banker Tim Schneider, the former CEO and co-founder of Investors Community Bank.

The report, which examined trends between 2010 and 2021, found that the country's biggest banks only opened 638 branches in low-to-moderate-income communities made up primarily of people of color. That accounts for just 15% of their total branch openings.

The partners aim to lend $150 million in the next three years to sellers from "socially and economically distressed communities."

Royal Bank of Canada's investment banking arm held a round of layoffs in the U.S., according to people with knowledge of the matter.

The Biden administration was accused in a lawsuit by six Republican-led states of overstepping its authority with a plan to forgive federal student loans.

Canadian Imperial Bank of Commerce set a goal of reducing the carbon-emissions intensity of its lending to power generators, adding to targets it has already placed on the oil and gas industry.

Nearly nine out of 10 bankers surveyed by the Conference of State Bank Supervisors ranked the specter of rising deposit costs and narrowing margins as their top concern.

The claim that these arrangements are unregulated is inaccurate, and instead, more oversight would destroy the benefits of banks working with fintechs on consumer products.

The Alabama bank must pay $191 million in connection with charges it levied on customers whose account balances went negative before a transaction was posted. Seven years ago, the CFPB imposed a $7.5 million overdraft-related fine on Regions.

In a policy proposal published Tuesday, Fed staffers called for supervisory changes to accommodate banks with commercial real estate loans still reeling from COVID.