Retail & Commercial

HELOCs and second mortgages at credit unions are on the decline amid increasing refis and shifts in consumer sentiment about borrowing against their home’s value.

Lower interest rates are allowing banks to use the cheaper capital to repay higher-cost debt and prepare for future expansion.

The company will pay about $58 million in cash for Melrose Bancorp.

The fresh optimism is starting to outweigh some of the worries hanging over the sector heading into the new year.

The bank sees digital assets as part of the future and "we want to be there when this happens," says Ralph Achkar, head of digital product development and innovation.

The FDIC was reluctant to sign off on the merger of Summit Bancshares and Faciam Holdings because the company planned to serve marijuana-related businesses.

The Tennessee company said Rob Garcia will be in charge of building a commercial banking team in the city.

The company will pay $94 million for a bank with operations in New Jersey's Somerset and Morris counties.

A provision of the Community Reinvestment Act overhaul package would rightfully hold lenders more accountable for reinvesting in cities where they are feeding off deposits.

The bank is the first U.S. one approved for a majority-owned securities unit in China; the FSB said banks must get serious about replacing the benchmark.