Banking

The growth in mobile banking has lowered barriers to accessing the banking system, but the Federal Deposit Insurance Corp.'s National Survey of the Unbanked and Underbanked released Tuesday reveals that minority households are still disproportionately underserved.

Financial advisers have been retained to find a buyer for the Saint Paul-based lender, people familiar with the matter said. The sale of the bank has been a sore point for about five years.

This year, 90 banks made American Banker's 12th annual Best Banks to Work For ranking. The leaders of these institutions share how they keep their employees happy.

Foiled in a bid to acquire a controlling stake in the New York-based bank earlier this year, Dream Chasers is asking investors to elect two of its members as directors.

Credit unions don't enjoy an unfair advantage. What they do is reinvest in their members and their communities in a way banks often do not.

With plans to open 100 banking centers in "banking deserts," the $3 trillion JPMorgan Chase is arguably the nation's largest community bank. Other big banks should take notice and follow suit, and regulators should encourage them.

Deconsolidation from Seven & i resulting from a reduction of its stake in Seven Bank would make such a scenario more possible, according to CEO Masaaki Matsuhashi.

The added capital will help the New Jersey-based regional bank reduce its commercial real estate footprint faster and give it wiggle room to grow elsewhere, analysts said.

The Pittsburgh-based superregional bank plans to build more than 200 new branches in 12 states by 2029, twice the number it announced in February, in a bid to increase scale.

DFCU Financial reached a deal to acquire Winter Park National Bank in the Orlando metropolitan area. It was a record 20th credit union-bank merger of the year.

By exempting small banks from compliance with its open banking rule, the Consumer Financial Protection Bureau is relegating them to the dustbin of history. That cannot be allowed to happen.

The Vienna, Virginia-based credit union will pay tens of millions of dollars in penalties over what the agency said was "junk fees" charged to Navy Federal's customers.

The Honolulu-based seller had faced pushback from an investor group that stepped in with a competing offer. But it ultimately secured enough votes to approve the sale to Hope Bancorp.

Amerant in Coral Gables has relied on partnerships with South Florida athletic franchises to build brand awareness and help ease its expansion in Tampa.

Consumer groups and banks are pushing for increased regulation on credit unions, aligning on concerns over tax exemptions, consumer protection standards, and the rising trend of credit union acquisitions of community banks.

The Greenhouse Gas Reduction Fund, a major element of the IRA, provides a critical opportunity for banks to integrate green finance into their core strategies.

Leaders at financial institutions said borrower demand should pick back up, if slowly, following Tuesday's vote.