Retail & Commercial

The most compelling innovation in banking today is not about flashy interfaces or speculative applications of technology, it is about strengthening core functions such as lending, payments, risk management and compliance.

The Federal Reserve's recently published request for information on options for updating its check clearing apparatus has bankers fearing that it will opt to phase out paper checks entirely — an outcome that has community banks panicked.

Borrower equity fell $78.8 billion, or 0.5%, year over year in Q4, according to Cotality's Home Equity Report. That's an average decrease of $8,500.

Billy Beale, who was hired to clean up Virginia-based Blue Ridge Bankshares after its failed foray with fintechs, has left the $2.4 billion-asset company. His successor is Harry Golliday, who was named interim CEO.

A new report from the Consumer Federation of America says the true cost of online scams is an estimated $119 billion per year; Associated Banc-Corp moves forward with its planned acquisition of family owned American National; Servbank HoldCo completes its acquisition of IF Bancorp; and more in this week's banking news roundup.

As funding mechanisms for sovereign debt and large assets increasingly migrate toward real-time financial infrastructure, banks are at risk of being displaced as key intermediaries in global finance.

The New York-based bank, which serves plaintiff law firms, agreed to pay $348 million for a Windy City community bank.

A New York state bill would reduce the barrier for minority-bank and community-bank participation in the state's long-standing Banking Development District program.

A group representing this part of the industry and a community lenders' association both called for more time to implement the legislative mandate.

The conflict pushed oil price futures above $100 a barrel for a short time earlier this week, which affected bond investors and the 10-year Treasury yield.