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The $3 billion-asset company is expecting to add seven branches in the northwestern part of the state, and to expand its commercial lending business in the Toledo market, with the acquisition of Comunibanc Corp.

The largest U.S. bank by assets is declining to institute a companywide mandate like Citigroup and is instead tailoring its rules to local requirements.

The CFPB sued three executives of a Colorado debt collection firm for allegedly selling debts to third-party collectors who threatened consumers with arrest, jail or lawsuits in order to get paid.

Federal Reserve Vice Chair Richard Clarida intends to resign from the board of governors on Jan. 14, two weeks before his term is due to expire.

Last reelected by a more than 21-point margin, Ed Perlmutter is now 26th House Democrat to leave Congress rather than endure the 2022 midterms.

The Change Company, a lender to Black, Hispanic and low-income borrowers, was set to merge with the former quarterback’s blank-check company. Steven Sugarman, a onetime Banc of California chief, says his company is now in talks with other investors and inviting banks to use a new digital marketplace for its loans.

Matt Stephenson, who has worked at Rogue since 2004, will succeed Gene Pelham, who is retiring at the end of March.

Some community banks and credit unions worry that by hiring out-of-state workers to fill their many job openings, as other employers have done, they could erode community ties.

Toronto-Dominion Bank Chief Executive Bharat Masrani said additional share repurchases would be a possible use of the lender’s excess capital if it doesn’t deploy those funds in a major acquisition.

Goldman's second consumer credit card borrows many features of its three-year-old Apple Card, such as instant issuance through a mobile app and an emphasis on virtual account numbers.

Royal Bank of Canada Chief Executive Dave McKay said the lender may seek to add to its wealth management unit in the U.S. and Europe through smaller, targeted acquisitions.

The Consumer Financial Protection Bureau's investigation calls some installment lenders' collection practices into question, but also highlights the ease of access that has made their loans so popular.

The National Credit Union Administration has invited feedback from executives after exams, given them a freer hand to partner with cryptocurrency firms and made it easier to start new credit unions, Kyle Hauptman says in touting the agency’s efforts to modernize itself.

Central bankers need to speak up about economic barriers prompted by racism and the need for inclusion and diversity, Federal Reserve Bank of Atlanta President Raphael Bostic said, a response to critics who see the work as a distraction from the Fed’s main goals. 

Daily edition for January 10, 2022

The largest U.S. banks have made progress in detailing the risks posed by climate change, but it's clear the industry will have to do more. As federal regulators prepare to impose new obligations, banks are pushing back against calls for more aggressive measures such as capital requirements and increased risk weighting for fossil-fuel lending.

PayPal is exploring the launch of its own stablecoin as part of its cryptocurrency push, according to the company, which confirmed the development after evidence of the move was discovered inside its iPhone app.

Both traditional financial institutions and neobanks — including NorthOne, Novo and BMO Harris Bank — are developing technology to meet the needs of younger small-business owners.

Newity was founded to buy and administer Paycheck Protection Program loans. Now that the program has ended, the company is teaming with a bank on a platform that offers Small Business Administration 7(a) loans.

The payout will help the Delaware bank recover legal costs that stemmed from its 2010 purchase of Christiana Bank & Trust. It expects a 23-cent boost to earnings per share in the most recently completed quarter.