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GreenState Credit Union has announced three bank deals this year. Its CEO says purchasing banks can be easier than merging with rival credit unions, though the state's banking regulator has made it difficult to do so within Iowa.
October 28
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Toronto-Dominion Bank is thanking employees for their pandemic-era resilience with a new reward: a piece of the company.
October 28
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The card network aims to attract more merchant customers with an account that pays a 1.1% interest rate.
October 28
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Amazon, Google and other technology giants entering financial services should be subject to the same supervision banks are, Rohit Chopra said in his first congressional testimony as director of the Consumer Financial Protection Bureau. He also said he wants to focus enforcement on large firms that harm many people rather than chasing small companies.
October 27
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A proposal that would enlist financial institutions’ help in raising tax revenue to pay for President Biden’s social policy agenda lost steam after objections from a key senator. The administration was said to be narrowing the plan’s scope to preserve its chances.
October 27
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The decision came prior to news of a federal investigation of PAX Technology and a raid of its Florida locations that has prompted inquiries from customers about the security of devices that they have relied on for making and receiving payments.
October 27
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The nominee to lead the U.S.’s top swaps regulator has a warning for lawmakers: Crypto misconduct the agency has already exposed is “the tip of the iceberg” and it likely needs more authority to police the white-hot market.
October 27
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The DeFi protocol Cream Finance suffered yet another 2021 hack in an exploit that stole at least $130 million and could be one of the largest thefts in decentralized finance.
October 27 -
Collaborations among rival banks and fintechs can be mutually beneficial, Vanessa Colella says. A recent example is a small-business loan portal Citi created that other banks can use.
October 27
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The deal for Michigan-based Flagstar Bancorp, announced in April, was originally expected to be completed by the end of the year. The New York bank’s CEO expressed optimism that it will still get regulatory approval.
October 27
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The National Credit Union Administration has approved Capital Federal Credit Union in Lubbock, Texas, to serve people of color and underserved communities in its state.
October 27
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The Concord-based credit union has hired Anthony Emerson as its next president and chief executive. He was most recently leader of IC Federal Credit Union in Massachusetts.
October 27 -
The credit card issuer benefited from consumer loan growth in the third quarter, but investors seemed spooked by increases in its marketing and technology costs.
October 27
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Lending momentum is building and tourists have come back, but the coronavirus is a lingering concern for a state that relies heavily on vacationers.
October 27
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The standards, if finalized, could shed light on how Fannie Mae and Freddie Mac are complying with the Federal Housing Finance Agency's new capital framework.
October 27
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Community banks don’t need to match the biggest banks’ digital offerings or advertising budgets. Where they can compete, and win, is by delivering more personalized service.
October 27
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The credit bureau's $638 million deal to buy the ID verification firm is its second M&A agreement in a little over a month to broaden its line of products and services that help customers combat fraudsters and identity thieves.
October 27
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The card network is working with new partners such as FIS and Moneris to connect banks, fintechs and merchants on its Visa Installments Solution platform. Its goal is to provide access to a broader spectrum of consumers than these companies can reach in one-off deals, CEO Al Kelly said.
October 27
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