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Some consumer protection initiatives, including those aimed at limiting overdraft charges and capping interchange fees, might have contributed to this lingering issue, a new Government Accountability Office report says.
March 8
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Liberty Bank and Texas Capital Bank are among those trying to attract new online-only customers while experimenting with technologies to benefit the institutions overall.
March 8
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The sale of Partners Bancorp in Maryland to OceanFirst Financial in New Jersey was expected to be approved by midyear. But regulators' reviews of the applications are taking longer than expected, meaning the companies can no longer “give any assurance as to the timing” of the deal's completion, Partners says.
March 8 -
Newtek, the No. 2 originator of Small Business Administration 7(a) loans, is buying a single-branch bank in New York. The news sent its stock price tumbling as shareholders revolted, but CEO Barry Sloane is staying the course.
March 8
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Bank of America’s consumer clients made $294 billion of total payments last month, up 16% from a year earlier, as the U.S. economy continued its recovery from the coronavirus pandemic.
March 8
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Numerous unaccredited and loosely regulated schools are offering buy now/pay later products as a payment option for students, according to the Student Borrower Protection Center. Its report, which called out PayPal, Klarna, Affirm and Afterpay, comes as the CFPB is considering how to regulate the sector.
March 7
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Bank of Montreal laid out a plan to sharply reduce emissions connected to loans to the energy and power-generation sectors by 2030 as its aims for a longer-term goal of being net zero.
March 7
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Citigroup says it will add about 900 staffers over the next three years as part of an effort to generate more revenue from midsize firms with global ambitions.
March 7
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The long-awaited Community Reinvestment Act reform plan is likely to address climate change and bank partnerships with nonbank lenders, while also taking into account the shrinking number of U.S. bank branches, government officials said Monday.
March 7
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On Dec. 31, 2021. Dollars in thousands.
March 7
