Retail & Commercial

While many institutions are part of nationwide shared-branch networks, three Southern California credit unions have agreed to share one facility. The arrangement is believed to be the only one of its kind.

The FHFA’s forbearance extension to September is forcing nonbank servicers to buy out more delinquent loans. It's also upended loss estimates for investors and made racial and income disparities in the mortgage market worse.

Lawmakers approved a bill that will allow the Paycheck Protection Program to remain open until May 31. It was originally set to expire on March 31.

Truist Financial's venture capital division led the Series A funding round for Greenwood, a platform aimed at Black and Latino customers. Other investors include Bank of America, Citigroup, Mastercard and Visa.

Complaints to the Consumer Financial Protection Bureau jumped 54% to 542,300 in 2020. Concerns about credit reports have long outnumbered those in other categories and jumped significantly as a share of the total from 2019.

Four months into the job, Charles Shaffer has struck a deal for Legacy Bank of Florida and is eyeing more acquisitions. His predecessor, Dennis Hudson III, built Seacoast with more than a dozen buyouts across the Sunshine State.

The Minneapolis company teamed with the fintech Personetics to develop an automated-savings feature on its app that goes beyond most rival offerings by monitoring cash flow and spending to determine safe amounts to set aside.

Wells Fargo, disposing of units to simplify operations, agreed to sell its corporate trust business to Australia’s Computershare Ltd. for $750 million.

The $235 million acquisition will bring CEO Jared Wolff's company a trove of cheap deposits and the chance to slash costs without having to significantly change its business model.

The company agreed to buy Legacy Bank of Florida for $102 million.