Retail & Commercial

More banks are discussing the status of overdraft practices, and the industry is bracing for the potential of new regulations under President-elect Joe Biden.

JPMorgan Chase is going on the “offensive” in mortgages as home prices rise across the country, said Marianne Lake, the bank’s chief executive for consumer lending.

Anchor Bank in Palm Beach Gardens was rescued by Bolivian investors after the financial crisis and began catering to South American clientele. Now it has agreed to buy a Broward County bank, setting the stage for its long-awaited, in-market expansion.

The Indiana company agreed to acquire Hoosier Trust, which manages about $300 million in assets.

While we can’t know what the post COVID-19 landscape will look like, we do know that business expenses will ramp back up, and with them, higher expectations for digital payments from both suppliers and vendors, says Wex's Jay Dearborn.

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.