Banking

The accounting board delayed implementation for the majority of banks and credit unions until 2023.

The Pittsburgh company’s “branch lite” approach to retail and middle-market banking in new markets will break even sooner than expected and has had a noticeable impact on loans and deposits.

While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.

The deal will create a nearly $500 million-asset bank.

CFPB Director Kathy Kraninger faced a barrage of questions from Democrats on the House Financial Services Committee over why the agency has not demanded refunds for consumers in recent settlements.

The Minneapolis company attributed the uptick to new tech tools, additional loan officers and other process improvements — not to mention the refi boom fueled by lower rates. It’s a formula other banks are expected to copy.

They’ve long used their marketing muscle to wrest deposit share from smaller competitors. Now, amid growing concerns that the economy is weakening, they could be benefiting from consumers’ flight to safety.

Vocalink beat out four other competing bids to secure a 10-year contract to provide real-time switching and settlements for U.K. ATM operator Link Scheme.

Northern California utility company PG&E recently shut off power to more than 2 million consumers, meaning some insitutions had to move quickly to minimize the outages' impact on operations.

The Dallas company also warned of a decline in net interest income this quarter due to the anticipated impact of Federal Reserve interest rate cuts on loan yields.

Digital services are gaining momentum, and traditional plastic cards are adding innovation to keep up after years of lagging, says FIME's Stéphanie El Rhomri.

The application for Riverside Bank of Dublin comes just six months after another group opened a bank in a nearby market.

The Minneapolis bank says recent investments in its retail operation contributed to strong improvement in home lending and mortgage banking fees.

Net interest income rose just 1%, but the bank rode a surge in advisory and other fees to beat profit estimates.

Third quarter profits at JPM, Wells Fargo and Citigroup got a boost from consumer banking; the company tells Fed it will remain a passive investor.

The information you need to start your day, from PaymentsSource and around the web. Today: Paytm draws new investment; Interac expands mobile payments; Klarna and Samsung collaborate; Shopify and Splitit team up; Aliant pays staff in crypto.

At a national level, loan growth has been on the decline for months and could still get worse. Here's how some credit unions are tackling the issue.

Perhaps the biggest test that Charles Scharf will face when he starts next week will be how to control expenses while still trying to make the necessary investments in risk management to satisfy regulators.

The acquisition of Farmers & Merchants Bank created a bank with more than $200 million in assets.

Its quarterly results show lower rates and emerging credit risks can be overcome. Whether most banks have all the same levers to pull is another matter.