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Advocates for depositor-owned banks want regulators to block the combination of a one-branch thrift and Minnesota’s largest credit union, for fear it will lead to similar deals.
May 27
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The London-based banking giant is selling 90 of its branches and shuttering about three dozen more. The 20 or so branches it is retaining will be transformed into international wealth centers.
May 26
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DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.
May 26
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The heads of the six largest banks aimed to promote their COVID-19 relief in testimony to the Banking Committee. Democrats said their efforts were insufficient while Republicans criticized the executives for taking public stances on issues like climate change and voting rights.
May 26
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Banks may need to be more selective about how they issue plastic, so that cards remain available to those customers who need them most.
May 26
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The card network's Fintech Partner Connect, which was previously available only in Europe, provides a curated list of companies that Visa clients, including banks, can consult for help opening accounts or aggregating customer data.
May 26
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Huntingdon Valley Bank in Pennsylvania and First Savings Bank in Indiana are among the banks extending their relationships with software providers to make small-business lending more efficient after the Paycheck Protection Program is phased out.
May 26
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It's in financial institutions' best interest to treat increasingly popular cryptocurrency assets the same as other financial assets held by their customers. And regulators must foster a safe environment for these assets by focusing on real risks like money laundering and terrorism finance.
May 26
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A New York court ordered the freezing of $560 million in assets held by entities controlled by Renren CEO Joseph Chen, Softbank Group and others, an amount pegged to a stake in the personal finance startup Social Finance, which is slated for a blank-check merger this week.
May 26 -
Bank of Montreal’s fiscal second-quarter earnings beat estimates as the waning COVID-19 crisis allowed the lender to set aside less for souring loans and gave a lift to the company’s personal and commercial banking businesses.
May 26
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The industry reported a net release of reserves, helping to make up for a record-low net interest margin and the first year-over-year decline in loan balances in nearly a decade, the FDIC says in its latest Quarterly Banking Profile.
May 26
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The companies are working to thwart abuse on the Honey platform, a deal-finding system that PayPal acquired in 2019.
May 26
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The Indiana company is buying 14 branches that Huntington Bancshares is divesting as a condition of its deal to buy TCF Financial.
May 26
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Sarah Dahlgren, who joined the scandal-plagued company in 2018, is departing of her own accord, according to a spokesman.
May 26
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The private-label card issuer says that, as merchants reopen, now is the time to realize the benefits of its 2020 acquisition of the buy now/pay later company Bread.
May 26
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The move follows the bank’s $911 million loss in the Archegos Capital fiasco; the bank will hold a 51% share in a wealth management joint venture with a Chinese bank.
May 26 -
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With rock-bottom rates suppressing interest income, some buyers are looking beyond traditional M&A and striking deals for asset managers, insurance firms and other businesses that generate the bulk of their revenue from fees.
May 25
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GreenState Credit Union's agreements to buy community banks in Illinois and Nebraska renewed the debate over whether federal tax exemption gives credit unions an unfair competitive advantage.
May 25
