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The Alabama-based credit union has agreed to purchase the $215 million-asset OneSouth Bank in Macon; it also purchased Georgia banks in 2014 and 2015.

Followers of Islam cannot pay interest on loans. Androscoggin Bank figured out a way to structure a new product that addresses that challenge and paves a path to more homeownership.

The reserve bank formally kicked off its search to replace former President James Bullard, who held a doctorate in economics and was lauded for his communication skills.

Some banks are gravitating toward API connectivity to build an "ecosystem of applications." Others like a one-stop-shop or ready access to executives.

The U.S. Securities and Exchange Commission is probing the non-QM lender, which pledges to promote homeownership in underserved communities, over its mortgage-backed securities, according to people with direct knowledge of the matter. 

The planned sale marks another step for the Wall Street giant away from previous plans to work more with retail customers.

A former insider wants the Federal Home Loan Bank System's regulator to require its 11 regional banks to balance members' liquidity needs with the system's public mission to fund affordable housing and community development programs.

The top three industries have $19.8 billion in combined fintech financings through June 2023.

The need to create a pipeline of female leaders in the male-dominated fintech space is urgent and deserves the industry's attention.

The proposed regulations from the Treasury Department and Internal Revenue Service offer clarity on reporting rules enacted in 2021 to curb crypto-related tax evasion by offering more transparency into customer trades.

The bank's retail clients can enable iPhones to accept payments without extra hardware, raising the stakes for any company that competes with the bank for merchant clients.

The institutions in the second grouping of American Banker's top Credit Unions to Work For demonstrated the importance of a fun work environment, transparent leadership and competitive benefits.

American Banker's first grouping of the top institutions for 2023 features leaders that are enhancing their offices and surrounding communities through unique volunteer programs, comprehensive benefit packages and more.

The company is paying $75 million in penalties and restitution in connection with SEC allegations that its investment advisory arm overcharged customers it inherited in its Wachovia acquisition in 2008. The settlement is said to show the importance of conducting extensive compliance checks in a rapidly consolidating industry.

The lender was accused in a recent lawsuit of failing to meet its obligations to underserved borrowers in lieu of wealthy clients.

Financial institutions must adopt generative AI and large language models, or risk falling behind, experts said.

Burke & Herbert Financial Corp. and Summit Financial Group announced a transaction that they described as a merger of equals valued at roughly $371.5 million in stock.

New Peoples Bank announced J.W. Kiser will be its next president and CEO; D.A. Davidson hired Dan Fiandaca to lead its brokered CD underwriting group; Citizens Bank launches Roger, a digital bank for military members; and more in the weekly banking news roundup.

Comerica CEO Curt Farmer and CFO James Herzog as well as the company itself face a purported class action by shareholders for allegedly making false and misleading statements about the Dallas company's oversight of the Treasury Department's Direct Express program.

Following six years of development, the National Institute of Standards and Technology has released draft standards for three algorithms that can resist future attacks by quantum computers.