Retail & Commercial

Marc Womack, a former executive at JPMorgan Chase, Capital One and GE Capital, will join the subprime auto lender next month.

The deal would propel New York-based Valley National into the ranks of the nation's 30 largest banks.

In the last 10 months, three banks based overseas have announced their exit from retail banking in this country. Rising competition, revenue challenges and a pressing need to spend big on technology are driving the moves.

The institution, which dates to the mid-1800s, helped fuel the state’s growth during the 19th and 20th centuries. Its charter will cease to exist when it's sold to U.S. Bancorp.

Its deal for the unaffiliated but similarly mission-focused Amalgamated Bank of Chicago would create a $7.6 billion-asset institution serving unions, nonprofits and organizations that support environmental sustainability and social enterprises.

The Dallas-based bank holding company said it would pay $62.5 million in cash to buy the privately held North Avenue Capital, the top lender in the USDA's Business & Industry program.

The $12.3 billion-asset Boston bank set an ambitious three-year target for mortgages and small-business loans in low-income areas. It's a major part of a $5 billion commitment to financial inclusion and clean energy.

An app that strives to be a "one-stop shop" for all money matters is likely to please nobody.

At a House Financial Services Committee hearing, lawmakers on both sides of the aisle questioned the widespread practice of screen scraping and agreed that consumers should have a more direct say over how their financial data is handled.

Whether to approve the $8 billion deal will fall to the Fed, whose board may be reshaped by President Biden in the coming months. The White House recently called for more robust scrutiny of bank acquisitions.