Retail & Commercial

U.S. Bancorp, M&T Bank, Citizens Financial are among the regionals that are buying smaller competitors in an effort to achieve greater scale.

The Consumer Financial Protection Bureau may investigate cryptocurrency providers for mistreating customers, but the agency’s supposed interest in the burgeoning sector is reviving a debate about the CFPB’s authority.

Wells Fargo reached a settlement with the U.S. Justice Department over claims it overcharged commercial customers who used the bank’s foreign exchange services.

Banks should be careful not to overreact to the pandemic recession and assume that the public is willing to forgo personal service. More than 40% of consumers say having a branch nearby is their primary reason for picking a bank.

Genesis Bank, the second minority depository institution aimed at multiple demographic groups, says loan demand has far exceeded expectations and that it will seek additional capital to meet the credit of needs Asian, Black and Hispanic consumers in Southern California.

Russell Columbo will step down Oct. 31 after 15 years at the helm. The $4 billion-asset company has named its COO, Tim Myers, to succeed Columbo.

A new study from Moody’s found a small correlation between greater gender diversity and higher credit ratings. But researchers at the ratings firm warned that their efforts were hampered by a lack of consistent data.

Companies like Ally are mimicking the approach of fintechs by curbing overdraft charges and instituting other changes. It is a sign that startups’ efforts to improve customer experience were successful and that competition in digital-first banking will intensify.

The Boston company is set to become the nation’s largest custody bank after paying a premium for a Brown Brothers Harriman unit. Executives and analysts say Brown Brothers may have been the last chance for any of the country's major custodians to achieve meaningful growth through M&A.

The midsize regional has long wanted to be a player in VC banking. Its deal for the U.S. arm of Israel's Bank Leumi would give Valley global scale in this lucrative line of business.