Retail & Commercial

Though the agency plans to give more credit unions authority to issue subordinated debt, limited investor appetite and other factors could hamper activity.

The companies spent much of the past decade completing smaller deals that created complementary footprints in the Southeast.

Members of the House Small Business Committee expressed concerns to SBA Administrator Jovita Carranza that the rule could harm poultry farmers.

Lineage Financial Network, led by former Franklin Financial CEO Richard Herrington, plans to acquire Sumner Bank and Citizens Bank.

As the COVID-19 virus spreads globally, many U.S. financial institutions are said to be taking steps to protect employees and minimize disruption. But only a handful are sharing specifics, to avoid contributing to any public panic.

The proposal is the fourth piece of legislation unveiled this week to tweak the Federal Credit Union Act.

After dragging its feet, the agency has agreed to a court-supervised process for writing a Dodd-Frank-mandated rule aimed at stamping out discrimination.

Under CEO Charlie Scharf, the bank that has historically viewed itself as more Main Street than Wall Street is becoming deeply embedded in the nation’s financial capital and its hard-charging culture.

The banking group issued lawmakers a guide on questions to ask as credit union executives visit Capitol Hill for two days.

Fintechs like LendingClub and Varo Money illustrate how the traditional financial system is changing. Banks that don’t rapidly evolve with technology will be obsolete.