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The bank began trimming its payroll after a dismal first-quarter origination performance. It will announce second-quarter results next week.

When Walden Mutual opens this year, it will end a decades-long dry spell for de novos owned and governed by depositors.

In global news this week, the European Central Bank weighs in on fractured crypto regs, China's digital wallets come to Qatar, Amazon brings buy now/pay later to Egypt, and more.

Dermot McDonogh will be the custody bank's chief financial officer, as incoming CEO Robin Vince starts making his mark. The two each spent more than two decades at Goldman Sachs.

The nine banks in the group are experimenting with lending, secondary market and payments activities on the Provenance blockchain as they seek ways to perform basic banking tasks more efficiently.

The finance app Revolut is teaming up with Stripe to support payments in the U.K. and Europe.

A return of the Supervision Appeals Review Committee is a step backward for banks looking for an unbiased venue to challenge adverse regulatory rulings.

The combined Mountain West Credit Union Association and the Northwest Credit Union Association are taking a new name to reflect a wider area of membership.

HSBC Holdings is in talks to sell its Russia unit to local lender Expobank, according to two people with knowledge of the discussions.

Meta's wallet, which was designed to support the Diem cryptocurrency, will close in September. It's the latest setback for Meta's goal to build a broader payments system.

Amid reduced M&A activity, U.S. middle-market borrowers and investors in asset-backed securities are trying to reset and figure out where the right valuations levels are, says Sengal Selassie, CEO of Brightwood Capital Advisors, a lender and issuer of CLOs.

Banks and payment companies may have to decide whether to proactively protect or prohibit transactions for abortion treatment. Any action — or inaction — can be seen as taking a position on the highly divisive issue.

Michael Hsu has been acting comptroller for about 14 months. Since President Biden’s choice to lead the agency withdrew from consideration late last year, the White House has not floated any new names for his potential successor.

Chaz Rzewnicki will succeed current president and chief executive Allan Kemp McMorris later this year.

Even with another annual surge of over 20%, the pace of home-price growth eased in May and experts anticipate even further moderation over the next year.

Data as of Mar. 31, 2022. Dollars in thousands.

Data as of Mar. 31, 2022. Dollars in thousands.

Europe’s landmark test of banks’ resilience to global warming was far softer than many lenders had expected, according to people familiar with the matter.

The use of rent data in credit models is allowing people with low credit scores or thin credit files to get loans. But consumer advocates warn the use of that data could harm the very people it’s supposed to help. 

The fast-paced rise in rates should be good for banks — until it isn't. The higher interest earned on loan payments will at some point be offset by higher interest paid on deposits. The only questions are: When, and by how much?