Retail & Commercial

The industry has an opportunity to build deeper relationships with members right now by communicating in a proactive and empathetic way.

The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.

The bank disclosed in a regulatory filing that it is in the process of responding to a civil subpoena from the Consumer Financial Protection Bureau. It is the latest bank to come under regulatory scrutiny for the fees charged to consumers who overdraw their accounts.

Integrity Bank for Business is being pursued by a group with ties to Heritage Bankshares, which was sold in 2016.

Infinity FCU sought out a merger partner after realizing that even at $338 million in assets it was too small to provide the technologies members wanted. It could be a harbinger of more deals among larger players.

Executives from a half-dozen major financial institutions avoided detailed commercial lending forecasts and gave a mixed outlook on consumer credit at an industry conference. And they called on Washington to pass an aid package targeted at the most troubled business sectors as soon as it can.

The agency's "no-action" letter is intended to provide more regulatory certainty for the bank after it announced a short-term credit product available to checking account customers next year.

Asked about the political uncertainty surrounding the undecided presidential race, Federal Reserve Chair Jerome Powell said the central bank isn’t wavering from its duty “to support the economy during this difficult time.”

The region now leads the nation in virus cases, and with winter lurking the fear is that the outbreak will only get worse.

If the deal is approved, the $6.4 million-asset credit union would drop its federal share insurance upon joining Towpath Credit Union.