Retail & Commercial

BofA has launched two programs, one focused on increasing homeownership for Black and Hispanic Americans, and the other on small businesses owned by women and minorities that buy commercial real estate in federal opportunity zones.

The Federal Reserve is closing in on the launch of its real-time payment settlement system next year. By that time it will be six years behind the private-sector alternative, and it could prove to be redundant to a future Fed-issued digital currency.

The pending deal will help keep the Canadian bank's funding costs low, since Bank of the West has a strong core deposit portfolio, executives said Tuesday. BMO is sticking with its year-end timeline for closing the acquisition.

A group of 18 U.S. representatives is demanding Credova Financial answer questions about its no-interest financing options for the purchase of guns and ammunition.

Sumitomo Mitsui Banking Corp.'s new consumer-focused digital bank will be born out of its Manufacturers Bank subsidiary — a relatively small commercial bank with nine branches and no consumer business to speak of.

Data as of Jun. 30, 2022. Dollars in thousands.

Data as of Jun. 30, 2022. Dollars in thousands.

The financial industry is offering loans for solar energy projects, carbon emission trackers, green mortgages and cash-back incentives to help customers go green.

The privately held First Missouri Bank has rebranded as Verimore Bank.

Drake Bank in Minnesota is working with the fintech B Generous to test whether installment loans can help bring in larger donations to nonprofits.