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The industry had tightened up last year in the face of COVID-19. But as the economic outlook improves, banks are now easing criteria amid heightened competition, according to the Federal Reserve’s survey of loan officers.

A strong second quarter, new cryptocurrency clients and its selection as the issuer of a Facebook-affiliated digital currency seem to be validating Silvergate Bank’s unusual business model.

First Hawaiian and Bank of Hawaii are warning that a global spike in coronavirus cases could stunt the state's momentum and threaten credit quality.

The smallest U.S. businesses — those with no employees other than the owner — struggled during the past year with 76% of the firms suffering a decline in revenue over 12 months, a new survey by regional Federal Reserve banks found.

Criminals' efforts to steal identities and take over accounts have become increasingly sophisticated. Banks must upgrade their mitigation processes, which can be held back by antiquated systems and organizational silos.

In late July, the Justice Department notified the Houston bank of a potential lawsuit alleging violations between 2013 and 2017, according to a securities filing. Cadence said that its prospective merger partner, BancorpSouth, supports the settlement discussions.

KeyCorp paid out bonuses to investment bankers of as much as $25,000 in June, according to people familiar with the matter, joining other financial firms that have boosted pay to retain talent.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

On Mar. 31, 2021. Dollars in thousands.

The $29 billion deal would enable Square to better compete with PayPal and Apple, and provide an opportunity to cross-sell other services to the Australian lender's global audience.

Daily edition for August 02, 2021

Banks are struggling to hire and retain workers in a tight labor market. To stay competitive, they are making concessions on wages and remote work that likely would have been unnecessary before the pandemic.

The bureau said two rules related to communications with debtors will go into effect as originally planned on Nov. 30. The agency had previously proposed an extension to consider consumer advocates' concerns about the regulations.

Citigroup’s chief financial officer said China’s recent moves to crack down on companies isn’t likely to harm the bank’s business across the Asia-Pacific region.

Customers are responding well so far to the Minneapolis bank's May rollout of video appointments with branch bankers.

The regulatory agency issued two new prohibition orders, bringing the yearly total to 10.

Mutual banks tend to combine only with fellow mutuals. Spencer Savings' deal to acquire a stock-traded rival shows how the pressure to expand is forcing some buyers to get creative.

The agency is investigating whether the swipe fees paid to the banks that issue PayPal’s debit cards are consistent with Federal Reserve guidelines, PayPal said in a quarterly regulatory filing.

The Office of the Comptroller of the Currency’s pledge to rescind Trump-era Community Reinvestment Act reforms and work with other regulators suggests that an interagency agreement is within reach. But outstanding issues remain, particularly around the treatment of online banking activities.