Banking

The show business-themed restaurant, which benefited from a federal loan near the start of the pandemic, says it now owes millions thanks to the Miami-based bank's "fraud, negligence, and misrepresentations." A BankUnited spokesperson declined to comment.

A pair of surveys released in June indicates that small-business owners have growing confidence, while startup activity and SBA lending are demonstrating continued strength.

The ongoing turmoil in the Middle East has highlighted the complexities of successful anti-money-laundering compliance in a conflict zone. U.S. banks need to step up their game in order to stay safe.

Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.

Community banks that could reel in cheap deposits while keeping a lid on expenses were able to outperform peers in 2024.

The credit union regulator, responding to a recent executive order, has established strict new standards for prosecuting financial crimes. Regulators are now supposed to make criminal referrals only in cases where putative defendants appear to have known they were breaking the law.

Baton Rouge-based Investar Holding Corp. has agreed to pay $84 million for Wichita Falls Bancshares, which operates five branches in the Dallas-Fort Worth Metroplex.

The all-cash transaction will make the enlarged company the U.K.'s third-largest lender by some measures.

Congress is considering major changes to federally supported student loan programs. If lawmakers aren't careful, they could close off a vital pipeline of talent that feeds vital public systems.

Navy Federal Credit Union will not pay a $15 million fine or $80 million in restitution to service members who were illegally charged surprise overdraft fees when their accounts had sufficient funds.